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_____ Occur(s) When Goods Are Produced at the Lowest Possible

Question 116

Multiple Choice

_____ occur(s) when goods are produced at the lowest possible cost, and _____ occur(s) when individuals who desire a product the most receive those goods and services.


A) Production efficiency; allocative efficiency
B) Production possibilities; allocative possibilities
C) Allocative efficiency; production efficiency
D) Allocative possibilities; production possibilities

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