Allocative Efficiency Occurs in Markets When

Multiple Choice

Allocative efficiency occurs in markets when

A) goods are produced using the least amount of society's scarce resources
B) goods are produced at the lowest possible average total cost
C) goods are produced at the lowest possible marginal cost
D) the value to society of the last unit produced equals its marginal cost
E) the value to society of the last unit produced is greater than its marginal cost