Answer to Question #68220 in Microeconomics for navneet kaur

Question #68220
what sructure is used to benchmark allocative efficiency and why do we use it? Illustrate and explain using diagram.
1
Expert's answer
2017-05-12T10:49:11-0400
Usually such market structure as perfect competition is used to benchmark allocative efficiency, because all firms are price-takers and can't influence the market, so in equilibrium there is no deadweight loss.

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