Imperfect competition results in inefficiency but greater equity than pure competition.

Name: Imperfect competition results in inefficiency but greater equity than pure competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Imperfect competition can lead to inefficiencies such as higher prices and reduced output, but it does not necessarily result in greater equity. Equity depends on the distribution of goods and income, which can be uneven in both imperfect and perfect competition scenarios.

Imperfect Competition Results in Inefficiency but Greater Equity Than Pure