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1 November, 10:35

When there is allocative efficiency in a market, the buyers' maximum willingness to pay for the last unit traded is equal to the sellers' minimum acceptable price for that unit. True or false

a. True

b. False?

+2
Answers (2)
  1. 1 November, 10:42
    0
    The correct answer is letter "A": True.

    Explanation:

    Allocative Efficiency takes place when the preferences of the consumers are the priority. Under that scenario, the output level of the price of a product equals the marginal cost of production. This happens as a result of the consumers' willingness to pay for the product a price that equals the marginal utility of the producers.
  2. 1 November, 10:48
    0
    That answer is A. True
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Home » Business » When there is allocative efficiency in a market, the buyers' maximum willingness to pay for the last unit traded is equal to the sellers' minimum acceptable price for that unit. True or false a. True b. False?
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