asses whether firms in perfect competition and imperfect competition are efficient Flashcards
1
Q
imperfect competition
A
demand curve going downwards
short run
allocatively x
productively x
dynamic yes
xinfiecny yes
long run
allocatively x but more
productively x but more
x inefienct decrease
dynamic efficent
2
Q
perfect competition
A
d
short run
allocatively
dynamic
long run
allocatively
productively
