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(Allocative efficiency?
Voluntary exchange?
Productive efficiency?
occurs when a good or service is produced at the lowest possible cost.
(Allocative efficiency?
Voluntary exchange?
Productive efficiency?
occurs when production is in accordance with consumer preferences.

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kaympoey08

Answer:

The correct answers are;

Productive efficiency  occurs when a good or service is produced at the lowest possible cost.

Allocative efficiency occurs when production is in accordance with consumer preferences.

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