From the viewpoint of economic efficiency, when competitiveforces in an industry

Question

From the viewpoint of economic efficiency, when competitiveforces in an industry are weak, market allocation will often leadto A.   an output of the product that exceedsthe amount consistent with ideal economic efficiency. B.   an output of the product that is lessthan the amount consistent with ideal economic efficiency. C.   an output of the product that equalsthe amount consistent with ideal economic efficiency. D.   product prices that are below the costof production. From the viewpoint of economic efficiency, when competitiveforces in an industry are weak, market allocation will often leadto A.   an output of the product that exceedsthe amount consistent with ideal economic efficiency. B.   an output of the product that is lessthan the amount consistent with ideal economic efficiency. C.   an output of the product that equalsthe amount consistent with ideal economic efficiency. D.   product prices that are below the costof production. A.   an output of the product that exceedsthe amount consistent with ideal economic efficiency. B.   an output of the product that is lessthan the amount consistent with ideal economic efficiency. C.   an output of the product that equalsthe amount consistent with ideal economic efficiency. D.   product prices that are below the costof production.

Explanation / Answer

less competitive will lead toinefficiency

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