Answer to Question #77052 in Microeconomics for ira

Question #77052
a) Illustrate and explain using diagrams how a single seller within a market can maintain an inefficient allocation of resources.
1
Expert's answer
2018-05-09T10:05:07-0400
A single seller produces lower output for which MR = MC and sets a higher price from the demand curve at this quantity produced, but the efficient competitive point is at MC = D.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS