Answer to Question #77052 in Microeconomics for ira

Question #77052
a) Illustrate and explain using diagrams how a single seller within a market can maintain an inefficient allocation of resources.
1
Expert's answer
2018-05-09T10:05:07-0400
A single seller produces lower output for which MR = MC and sets a higher price from the demand curve at this quantity produced, but the efficient competitive point is at MC = D.

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