Deviations from the perfectly competitive market can lead to
A)inefficiently high production costs.
B)higher prices and smaller outputs.
C)less efficient resource allocation.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Deviations from perfectly competitive markets can lead to a variety of negative outcomes, including inefficiently high production costs, higher prices for consumers, smaller outputs, and less efficient resource allocation overall. Therefore, all of the choices (A, B, and C) are correct.

Deviations from the Perfectly Competitive Market Can Lead to