An increase in income shift a person's budget line rightward and does not change its slope

Which of the following describes a difference between allocative efficiency and productive efficiency in a perfectly competitive market?

A) Allocative efficiency is achieved only in the short run. Productive efficiency is achieved only in the long run. B) Allocative efficiency is achieved only in the long run. Productive efficiency is achieved in the short run and the long run. C) Allocative efficiency is achieved in the short run and the long run. Productive efficiency is achieved only in the long run. D) Allocative efficiency is achieved only in the long run. Productive efficiency is achieved only in the short run.

As you eat a hamburger, there is less and less of it available for someone else to eat. This is the characteristic of nonexclusivity

Indicate whether the statement is true or false