If a firm is producing so that the point chosen along the production possibility frontier is socially preferred, then that firm is said to have reached its
A. allocative efficiency
B. productive efficiency
C. utility-maximizing efficiency
D. minimum price efficiency
Answer:A
If a firm is producing so that the point chosen along the production possibility frontier is socially preferred, then that firm is said to have reached its
A. allocative efficiency B. productive efficiency C. utility-maximizing efficiency D. minimum price efficiency
Explanation: Essay Questions