Explain why welfare would higher under perfect competition, Macroeconomics

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Explain why welfare would higher under perfect competition

Problem

The priority given to work, development, and consumerism in the Chinese system camouflages its inefficiencies. Explain why welfare would be higher under perfect competition.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Explain why welfare would higher under perfect competition

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