Is it possible for a perfectly competitive firm to be maximizing profits, but not achieving resource allocative efficiency?

Question

Quizplus · Accepted Answer

In a perfectly competitive market, a firm maximizes profits where marginal revenue (MR) equals marginal cost (MC). This condition also ensures resource allocative efficiency, as it corresponds to the output level where the price (P), which represents the value consumers place on the good, equals the marginal cost of producing it, indicating that resources are being allocated efficiently.

Is It Possible for a Perfectly Competitive Firm to Be