Deviations from the perfectly competitive market can lead to
A)inefficiently high production costs.
B)higher prices and smaller outputs.
C)less efficient resource allocation.
D)All of the responses are correct.

Question

Quizplus · Accepted Answer

All of the responses are correct. Deviations from perfect competition can lead to inefficiencies such as higher production costs, higher prices and smaller outputs, and less efficient resource allocation. Therefore, D is the best answer.

Deviations from the Perfectly Competitive Market Can Lead to