Elucidate the cutthroat competitor reasons for not raising

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Reference no: EM1351738

Q. If output is at an efficient level...

Does it imply that consumer surplus is smaller than at the competitive output?
Does it imply that producer surplus is smaller than at the competitive output?

Q. Elucidate the cutthroat competitor's reasons for not raising or lowering his price, thereby accounting for the kink in his demand curve

Reference no: EM1351738

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