Which of the following statements is true about productive and allocative efficiency?

A) Realizing allocative efficiency implies that productive efficiency has been realized.
B) Productive efficiency can only occur if there is also allocative efficiency.
C) Society can achieve either productive efficiency or allocative efficiency,but not both simultaneously.
D) Productive efficiency and allocative efficiency can only occur together;neither can occur without the other.

Allocative efficiency refers to the allocation of resources in a way that maximizes society's satisfaction or welfare. Productive efficiency refers to producing goods and services at the lowest possible cost. Realizing allocative efficiency implies that resources have been allocated in the most efficient manner to maximize social welfare, which means that there is no other allocation of resources that can increase social welfare. In such a scenario, it is assumed that production of goods and services is being done at minimum possible cost, implying productivity efficiency. Therefore, realizing allocative efficiency implies that productive efficiency has been realized.