Explain how a perfectly competitive market causes allocative efficiency to occur What is the mathematical requirement for allocative efficiency Why is this requirement met in perfect competition and in no other market structure ...

In a perfectly competitive market allocative efficiency occurs when the price of a good equa ...

Explain how a perfectly competitive market causes allocative efficiency to occur. What is the mathematical requirement for

Fantastic news! We've Found the answer you've been seeking!

Question:

Explain how a perfectly competitive market causes allocative efficiency to occur. What is the mathematical requirement for allocative efficiency? Why is this requirement met in perfect competition and in no other market structure?

Related Book For answer-question

Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

See More Books

Posted Date: Mar 01, 2024 04:49 AM

See More Questions

In comparing a perfectly competitive market and a monopoly, please answer each of the following questions thoroughly, based on your readings and the AVPs, for full credit. Quality outside research...
The graph below shows conditions in a perfectly competitive market in which there is some sort of externality. In this market, a consumer purchases at most one unit of the good. There are many such...
It has been argued in recent years that the explosive growth of retailing on the Internet has made this form of retailing resemble an almost perfectly competitive market. Consumers appear to have...
Find the dy/dx for the following 3 2x+1.2x+1 (x +1)4 1- y=-
Lenox Corp. sold merchandise for $5,000 to M. Baxter on May 15, 2017, with payment due in 30 days. Subsequent to this, Baxter experienced cash-flow problems and was unable to pay its debt. On August...
In 2006, there were about 490 motor vehicle thefts for every 100,000 registrations. Assuming (1) a Poisson distribution, (2) a community with a comparable theft rate and 1000 registered motor...
In 1988, the Upper Deck Company was a company with an idea for a better baseball card: one that had a hologram on it. By the 1990s, the firm was a major corporation worth at least a quarter of a...
Verdugo Corporation is considering three long-term capital investment proposals. Relevant data on each project are as follows. Salvage value is expected to be zero at the end of each project....
Why is the relational model more important above the other models?
An investor has his own biases and emotions that influence decision-making, particularly when there are market losses due to an event such as the 2020 COVID-19 global pandemic. Fraudsters can target...
Sideshow Bob's Circus is considering replacing its current Whack-A-Mole machines with a new and improved model. The old machines cost $600,000 7 years ago and is being depreciated to zero using...
Write program in Java. You work for a package shipping company and are writing a program to determine shipping rates. The rates are determined by the following rules: If a package weighs less than 16...
1. Calculate f for a nachannel MOSFET whose T Cas 6.1 f F, C=1.7fF capacitances are given given as Cgs gd Assume operation current at 100 A, and that Kn= 160 A/V, W = 10m, L= 1m.
Answer: Bad debt and doubtful debt are terms used in accounting to classify debts that a company is unlikely to collect from its customers. Here's how they differ: Bad Debts: This alludes to the...
Image transcription text Role Play- SKILLS ASSESSMENT Please complete this by videoing yourself and sending the video to dised @fit edulau When undertaking your role play please be organised and...
Accounting In 1626, the Dutch bought the island of Manhattan and paid the Native Americans with trinkets worth about 24 dollars. If the total land value of Manhattan is approximately $8 trillion in...
What are the 5 Cs of marketing channel structure?
If the price of labor increases by 20 percent, but all other input prices remain the same, would the long-run total cost at a particular output level go up by more than 20 percent, less than 20...
Explain why a shift in the demand curve identifies the supply curve and not the demand curve.
What is the difference between a simultaneous move game and a sequential-move game?
OMalley Corporation was incorporated and began business on January 1, 2015. It has been successful and now requires a bank loan for additional working capital to finance expansion. The bank has...
Presented below is information related to Viel Company at December 31, 2015, the end of its first year of operations. (a) income from operations, (b) net income, (c) net income attributable to Viel...
Financial Reporting Problem Marks and Spencer plc (M&S) The financial statements of M&S (GBR) are presented in Appendix A. The companys complete annual report, including the notes to the financial...

Explain how a perfectly competitive market causes allocative efficiency to occur. What is the mathematical requirement for

Question:

Expert Answer:

In a perfectly competitive market allocative efficiency occurs when the price of a good equa... View the full answer

Microeconomics

Students also viewed these economics questions