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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Is a monopolist resource allocative efficient? Why or why not?

To determine

The allocative efficiency in monopoly.

Explanation

There is no allocative or productive efficiency in a monopoly. A firm is said to be resource allocative efficient when it charges a price equal to marginal cost (P=MC)

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