Unless markets are perfectly competitive,they mail fail to maximize the total benefits to buyers and sellers.

Question

Quizplus · Accepted Answer

When markets are not perfectly competitive, there may be market power and inefficiencies, which can result in prices that are not optimal for both buyers and sellers, and a failure to allocate resources efficiently. Therefore, markets that are not perfectly competitive may fail to maximize the total benefits to buyers and sellers.

Unless Markets Are Perfectly Competitive,they Mail Fail to Maximize the Total