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When the mix of goods and services produced is the mix most desired by society, the result is called allocative efficiency.
true/ false

Sagot :

Yes, it is true that allocative efficiency occurs when the mix of products and services produced matches the combination that society finds to be most desirable.

Every good or service is produced up to the point when the final unit offers consumers a marginal benefit equal to the marginal cost of production, and this is what is meant by the economic condition known as allocation efficiency.

In a perfect market, a firm is allocatively efficient when its price (P = MC) equals its marginal costs. When supply and demand are in balance, the cost of a given supply exactly matches the demand for the commodity. This is the state of allocative efficiency.

To know more about allocative efficiency go to https://brainly.com/question/23774265

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