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lythong266 lythong266
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A year ago
Consider the efficiency of various market structures. In the absence of other market failures, allocative efficiency is achieved only under perfect competition because only this market structure results in

▸ P = MC.

▸ zero long-run profits.

▸ complete freedom of entry and exit.

▸ productive efficiency.

▸ maximization of profits through competition.
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Microeconomics

Microeconomics


Edition: 17th
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rainbow12rainbow12
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A year ago
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lythong266 Author
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A year ago
Good timing, thanks!
Alina01978
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Yesterday
You make an excellent tutor!
vernonb
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2 hours ago
Correct Slight Smile TY
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