the condition for allocative efficiency is violated when

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01-11-2021
Business

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the condition for allocative efficiency is violated when

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Tundexiidn Tundexiidn · Answer 1 · 2021-11-10T05:21:13-05:00

The condition for allocative efficiency is violated when the firms are price makers.

The Allocative efficiency is a term used in an efficient market to describe when goods are optimally distributed among the buyers in the economy.

The Allocative efficiency is achieve in the market where the consumer demand is completely met by the supply

Therefore, in conclusion, the Option A is correct because the condition for allocative efficiency is violated when the firms are price makers.

Missing question includes: (A) firms are price makers (price searchers)(B) short-run profits exist in a competitive industry(C) price equals average total cost(D) the market demand curve is inelastic in a competitive industry(E) the market demand curve is elastic in a competitive industry

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