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When a competitive market achieves allocative efficiency, it implies that:


The quantity demanded is lower than the quantity supplied


The buyers are getting the maximum consumer surplus from the product


The marginal benefit of having the product is greater than the marginal cost


The combined consumer and producer surplus is maximized

Verified Answer :

sarcasmislife

Well allocative efficiency is: optimal levels of all goods are produced and sold to consumers who value them most

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