Explain inefficiency as price is greater than marginal cost, Microeconomics

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Explain inefficiency as price is greater than marginal cost

In a monopolistic competition. there is inefficiency because price is greater than marginal cost. what brings about this inefficiency?

a. high concentration, as indicated by the large concentration ratio
b. freedom of entry and exit
c. the fact there are many firms in the market
d. product differentiation
e. marginal cost rises as more output is prouduced

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Microeconomics: Explain inefficiency as price is greater than marginal cost

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Microeconomics: Explain inefficiency as price is greater than marginal cost

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Microeconomics: Explain inefficiency as price is greater than marginal cost

Reference No:- TGS074732

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