Allocative and productive efficiency are achieved under the market structure of:

A. pure competition.
B. pure monopoly.
C. oligopoly.
D. monopolistic competition.


Answer: A

Economics

You might also like to view...

The credit demand curve is:

A) vertical. B) downward sloping. C) horizontal. D) upward sloping.

Economics

In the long run, a perfectly competitive firm is expected to generate either an economic profit or an economic loss

a. True b. False Indicate whether the statement is true or false

Economics

A society allocates its scarce resources to various uses. These scarce resources include

a. land. b. people. c. machines. d. All of the above are correct.

Economics

A differentiated product is one that:

a. is slightly different from the competitor's product, although it is a close substitute. b. is very different. c. is traded within firms and is not for sale in retail markets. d. has a shelf life of less than a year.

Economics