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Author Question: Do firms actively seek allocative efficiency? (Read 117 times)

mccallkeeler

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on: Oct 12, 2022

Question 1

Which of the following is required for an individual firm to be productively efficient?
◦ The firm must be on its LRAC curve.
◦ MC = P for all goods.
◦ All resources must be fully used.
◦ The firm must be allocatively efficient.
◦ P = ATC for all goods.

Question 2

Do firms actively seek allocative efficiency?
◦ Yes, but only perfectly-competitive firms seek allocative efficiency.
◦ Yes, all firms in all market structures seek allocative efficiency.
◦ No, firms do not seek allocative efficiency.
◦ Yes, but only profit-maximizing, imperfectly-competitive firms seek allocative efficiency.
◦ Yes, profit-maximizing firms in all market structures seek allocative efficiency.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mccallkeeler on Oct 12, 2022

Deonnak85

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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.
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mccallkeeler

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

ryansturges

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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