What economic conditions are necessary to achieve productive and allocative efficiency under pure competition?
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Define productive efficiency and allocative efficiency. What conditions must be met to achieve them?
At its profit-maximizing output, a pure nondiscriminating monopolist achieves:
a. neither productive efficiency nor allocative efficiency.
b. both productive efficiency and allocative efficiency.
c. productive efficiency but not allocative efficiency.
d. allocative efficiency but not productive efficiency.
At its profit-maximizing output, a pure non-discriminating monopolist achieves:Ā A. neither productive efficiency nor allocative efficiency.B. both productive efficiency and allocative efficiency.C. productive efficiency but not allocative efficiency.D. allocative efficiency but not productive efficiency.
Ā