Under pure competition, in the long run

A) neither allocative efficiency nor productive efficiency is achieved.
B) both allocative efficiency and productive efficiency are achieved.
C) productive efficiency is achieved, but allocative efficiency is not.
D) allocative efficiency is achieved, but productive efficiency is not.

Allocative Efficiency

A state of the economy in which the distribution of resources among different uses is optimized, leading to an optimal level of consumer satisfaction.

Productive Efficiency

A situation in which an economy or entity is operating at maximum capacity, producing goods or services at the lowest possible cost.