49. allocative efficiency refers to a situation where () we caniuoi producc more of any one good without giving up some other good (2) goods and services are pr

49. Allocative efficiency refers to a situation where () We caniuoi producc more of any one good without giving up some other good (2) Goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit. (3) Opportunity cost is zero. (4) Opportunity costs are equal.