blueserval35Lv1
29 Oct 2021
Problem 38
Page 295
Section: CRITICAL THINKING QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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29 Oct 2021
Introduction
The Allocative efficiency is defined as a full efficiency that describes how producing the right amount of invested can produce a right way of a productive efficiency. The Allocative efficiency also happens when the given price is equal to the marginal cost i.e. is P=MC. It is a price that can allow society to measure and determine a relative worth with respect to the product at the margin along with determining a marginal benefit.
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