perfect competition displays________ because the social benefits additional prod

Question

perfect competition displays________ because the social benefits additional production, as measured by the price that people are willing to pay, are in balance with the _______ to society of that production. perfect competition displays________ because the social benefits additional production, as measured by the price that people are willing to pay, are in balance with the _______ to society of that production. perfect competition displays________ because the social benefits additional production, as measured by the price that people are willing to pay, are in balance with the _______ to society of that production.

Explanation / Answer

Perfect compitation displays Economic Efficiency because the social benifits additional production, as measured by the price that people are willing to pay, are in balance with the Marginal Revenues to society of that production.

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