Firms that supply a good in an imperfectly competitive private market will produce more of a good than is efficient.

Name: Firms that supply a good in an imperfectly competitive private market will produce more of a good than is efficient.
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Question

Quizplus · Accepted Answer

In imperfectly competitive markets, firms tend to produce less than the socially efficient quantity of a good, leading to higher prices and reduced consumer surplus compared to a perfectly competitive market.

Firms That Supply a Good in an Imperfectly Competitive Private