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6 November, 04:27

What is an exception to the general idea that markets lead to an efficient allocation of resources?

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  1. 6 November, 06:37
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    Imperfect competition is an exception to the general idea that markets lead to an efficient allocation of resources.

    Imperfect competition relates to monopoly in the way of allowing some producers or consumers to have a little influence over price and control within a given market. Due to this, it is an exception of not having allocated resources as needed.
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