This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the absence of other market failures, allocative efficiency is achieved in a perfectly ... (Read 66 times)

Gabby

  • Full Member
  • ***
  • Posts: 153
on: Oct 12, 2022
In the absence of other market failures, allocative efficiency is achieved in a perfectly competitive industry because
◦ firms do not need to maximize profits.
◦ the industry produces a level of output such that the marginal cost to producers equals the marginal benefit to consumers.
◦ the industry produces a level of output such that there are increasing returns to scale.
◦ there are barriers to entry.
◦ the industry produces a level of output such that the marginal cost of production is minimized.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Gabby on Oct 12, 2022

kaynelson17

  • Full Member
  • ***
  • Posts: 141
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


Gabby

  • Member
  • Posts: 153
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Four Possibilities in Judging the Presence or Absence of a Stimulus Four Possibilities in Judging the Presence or Absence of a Stimulus
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Ecosystem Energy Flow and Efficiency Ecosystem Energy Flow and Efficiency
Production efficiency vs. trophic efficiency Production efficiency vs. trophic efficiency
The response of the lac operon in the absence of lactose The response of the lac operon in the absence of lactose
Video: Cytotoxic T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library