If a lack of competition leads to costs rising this is called:

Name: If a lack of competition leads to costs rising this is called:
Brand: Quizplus
Rating: 5.0 (57 reviews)

Question

Quizplus · Accepted Answer

X inefficiency occurs when a lack of competition in a market leads to a situation where a firm is not producing at its minimum possible cost. This can happen because, without the pressure of competing against others, companies may not have the incentive to cut costs or improve productivity.

If a Lack of Competition Leads to Costs Rising This