Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Our platform provides a seamless experience for finding reliable answers from a knowledgeable network of professionals. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

After long-run adjustments, a purely competitive market achieves Group of answer choices productive efficiency but not necessarily allocative efficiency. allocative efficiency but not necessarily productive efficiency. either productive efficiency or allocative efficiency, but not both. both productive and allocative efficiency.

Sagot :

Answer: both productive and allocative efficiency.

Explanation:

A purely competitive market, is a market where there are large numbers of firms which produces standardized product. The prices of the goods in the market are determined by the consumer demand and no supplier can influence the market price.

After long-run adjustments, a purely competitive market achieves both productive and allocative efficiency. This is due to the fact that the average variable cost will be minimized and thenoruce that's charged will be equal to the marginal cost.

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.