Some economists argue that in long-run equilibrium under, Ask an Expert

Economics

Some economists argue that in long-run equilibrium under conditions of monopolistic competition there is economic waste because price is greater than marginal cost and average total cost is not at a minimum. How would it be possible to "eliminate" this waste? What would we have to give up?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M968998

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