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Unformatted text preview: Long-run profits (Income Efficiency) No (Yes) Yes (No) No (Yes) Usually (Usually No) Productive Efficiency Yes (production @ min ATC) No (production not @ min ATC) No (production not @ min ATC) No (production not @ min ATC) PS and CS maximized Some of CS transferred to PS Benefit from differentiated products Somewhat between perfect competition and monopoly No deadweight loss Deadweight loss Deadweight loss Deadweight loss Allocative Efficiency Efficient Inefficient Inefficient Inefficient...
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This note was uploaded on 04/18/2008 for the course ECO 100 taught by Professor Indart during the Spring '08 term at University of Toronto.
- Spring '08
- Perfect Competition