Chapter9: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 4SQP
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Question
Explain what market inefficiencies derive from
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Market inefficiencies are circumstances where a market's distribution of commodities and services is inefficient, resulting in a reduction in economic wellbeing. A number of things, including market power, externalities, public goods, inaccurate information, and transaction costs, can lead to inefficient markets.
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