Which of the following best describes the efficiency results in oligopoly?

Name: Which of the following best describes the efficiency results in oligopoly?
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In an oligopoly, firms often do not produce at minimum average total cost, and the price charged is typically greater than marginal cost. This is because oligopolistic firms have market power, allowing them to set prices above marginal costs, leading to higher profits but less efficiency compared to perfect competition.

Which of the Following Best Describes the Efficiency Results in Oligopoly