Topic: Examples of Allocative Efficiency
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What is allocative and productive efficiency?
Allocative and productive efficiencies are theoretical concepts in economics. Allocative efficiency is achieved in an economy when the distribution or apportionment of resources produces the greatest utility for consumers through its combin... Read More »
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What is Allocational Efficiency?
A characteristic of an efficient market in which capital is allocated in a way that benefits all participants. Allocational efficiency occurs when organizations in the public and private sectors can obtain funding for the projects that wil... Read More »
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What is an example of an allocation decision?
Coal is set aside to burn as heating fuel. Read More »
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They produce at a different point than a competitive firm, a monopoly produces at a point where marginal revenue= marginal cost, where a competitive firm equates price to marginal cost. The marginal cost curve is lower than the demand curve...
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Coal is set aside to burn for heating fuel
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Coal is set aside to burn as heating fuel.
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Allocative efficiency occurs when there is an optimal distribution of good...
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Consumers better off without making other consumers worse off! ChaCha! ...MORE...
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because there is no restriction on the usage of resourses so they can use according to their need.
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Source: http://wiki.answers.com/Q/How_does_the_free_market_ensure_an_effi...
MC pricing can lead to efficient allocation of resources because when the price goes up or down it signals the consumer demand, with that signal the suppliers, producers can figure out what exactly the consumer wants and will purchase there...
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Source: http://wiki.answers.com/Q/How_do_marginal_cost_pricing_lead_to_th...
