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Why monopoly is inefficient and perfect competition efficient?

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Why monopoly is inefficient and perfect competition efficient?
posted Jul 11, 2017 by Durga Prasad

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It is assumed that they are producing on the lowest point of their Average Total Cost curves, therefore producing the maximum possible output from available inputs and so productively efficient. They are also allocatively efficient because Price is equal to Marginal Cost.

answer Jul 12, 2017 by Mukul Chag
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