The diagram illustrates the long-run equilibrium positions of two firms, X and Y. What can be deduced about the economic efficiency of these two firms?
- Afirm X: allocative efficiency no, productive efficiency yes; firm Y: allocative efficiency yes, productive efficiency yes
- Bfirm X: allocative efficiency yes, productive efficiency no; firm Y: allocative efficiency yes, productive efficiency yes
- Cfirm X: allocative efficiency yes, productive efficiency yes; firm Y: allocative efficiency no, productive efficiency yes
- Dfirm X: allocative efficiency yes, productive efficiency yes; firm Y: allocative efficiency yes, productive efficiency no