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Answer to Question #88858 in Microeconomics for Jeslin Joseph

Question #88858
Illustrate and explain using diagram how a single seller within the market can maintain an inefficient allocation of resources
1
Expert's answer
2019-05-01T10:08:24-0400

A single seller or monopolistic will produce less at higher price to maximize his profits, so within the market he will maintain an inefficient allocation of resources and deadweight loss will be created.


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