Answer to Question #77172 in Microeconomics for syed

Question #77172
Illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resources
1
Expert's answer
2018-05-13T07:18:08-0400
A single seller within the market can maintain an inefficient allocation of resources, because he produces lower output at MR = MC at higher price from the demand curve at this level of output, while efficient price and output are at MC = D.

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