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

Author Question: Do firms actively seek allocative efficiency? (Read 99 times)

mccallkeeler

  • Full Member
  • ***
  • Posts: 149
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

Deonnak85

  • Full Member
  • ***
  • Posts: 158
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 45% of students answer this correctly


mccallkeeler

  • Member
  • Posts: 149
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Production efficiency. Production efficiency.
A Need for Improved Water-Use Efficiency in Plants A Need for Improved Water-Use Efficiency in Plants
Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
How to solve any percent efficiency problem How to solve any percent efficiency problem
Ecosystem Energy Flow and Efficiency Ecosystem Energy Flow and Efficiency
Competitive firms and maximization Competitive firms and maximization
Video: Physiology of Asthma

For a complete list of videos, visit our video library