Chots
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Is a perfectly competitive market x-efficient in the short run?
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Haleyparker
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(Original post by Chots)
Is a perfectly competitive market x-efficient in the short run?
A perfectly competitive market is productive and allocative efficient in the long run

A perfectly competitive marker is only allocative efficient in the long run
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Chots
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(Original post by Haleyparker)
A perfectly competitive market is productive and allocative efficient in the long run

A perfectly competitive marker is only allocative efficient in the long run
Haha thanks, I know that already though, I was referring to x efficiency
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Schmitzel
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(Original post by Chots)
Haha thanks, I know that already though, I was referring to x efficiency
more likely to be present when theres a monopoly as there is less incentive to cut costs because the monopolist doesn’t face competition from other firms. Therefore the AC curve is higher than it should be.
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