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22 September, 14:25

Allocative efficiency occurs when goods and services are produced and sold to consumers not only at marginal cost, but at:

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  1. 22 September, 17:11
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    Minimum average total cost.

    Explanation:

    Allocative efficiency can be understood as the state of economy or the level of output at which the the actual price of the goods produced matches the marginal cost of production. It would be wrong to say that only marginal cost is taken into consideration while assessing the allocative efficiency, but also minimum average total cost is calculated to evaluate the same.
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