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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Is a monopolist allocatively efficient? Why or why not?

To determine

Whether a monopolist is allocatively efficient.

Explanation

Allocative efficiency takes place when price is equal to marginal cost at the equilibrium output. Under monopoly, the price is not equal to the marginal cost at the...

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