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[DOC File]Ch. 1 & 2
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5) Allocative efficiency means achieving the optimal or most desired point on the production possibilities curve. 6) A point inside the production possibilities curve illustrates that resources are not being used as efficiently as possible.
allocative efficiency is achieved when

[DOCX File]ANSWERS TO END-OF-CHAPTER QUESTIONS
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2.Allocative efficiency occurs where P = MC, because price is society’s measure of relative worth of a product at the margin or its marginal benefit. And the marginal cost of producing product X measures the relative worth of the other goods that the resources used in …
allocative efficiency example

[DOC File]CHAPTER OVERVIEW - Crawford
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Your graphs should look like Figures 7.10 and 9.1 in the chapters. Price is higher and output lower for the monopolistic competitor. Pure competition: P = MC (allocative efficiency); P = minimum ATC (productive efficiency). Monopolistic competition: P > MC (allocative efficiency) and P > minimum ATC (productive inefficiency).
allocative efficiency means that

[DOC File]DEMAND
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Allocative Efficiency. is the situation in which society consumes a combination of goods and services that maximizes its welfare (What to produce) Maximum utility: only one point on the PPC is allocative efficient. Where the slope of the PPC is tangential to the slow of the indifference curve. Distributive Efficiency
allocative efficiency occurs when

[DOC File]Students Manuals
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Allocative efficiency is a situation in which goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit. We cannot produce more of any good without giving up some of another good that we value more highly. ... Draw a graph of Brazil’s PPF and explain how your graph illustrates ...
allocatively and productively efficient

[DOC File]Lecture 5 - California State Polytechnic University, Pomona
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Graph 7 Allocative Efficiency = MB = MC $ A. S = MC. At QE : CS = APEC. C PS = EPEC. PE E. D = MB. Q. 0 QE. NOTE: At QE total net benefits to society are maximized. Total net benefits to society are CS plus PS, or AEC. Total net benefits are also referred to as total surplus.
allocative inefficiency

[DOC File]NCEA Level 3 Economics (91399) 2013 Assessment Schedule
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Allocative efficiency occurs when the sum of the total surpluses are maximised., Since the loss in consumer surplus + producer surplus is more than the gain in tax revenue that the government gained, allocative efficiency is lost (a deadweight loss exists of c, d, e in Graph Three).
productive efficiency vs allocative efficiency

[DOC File]Name:
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Productive Efficiency . Allocative Efficiency. Excess Capacity. Graphs of Each of the Following: Costs of Production (____/6) Production Function TP, MP, and AP (Graph with three stages) TC, VC, FC (Definitions) MC, ATC, AVC, AFC (Formulas and Graph) Long-Run ATC (Graph showing Economies and Diseconomies of Scale) Perfect Competition (____/5)
allocative efficiency diagram

Allocative efficiency graph