What you’ll learn to do: understand why perfectly competitive markets are efficient

In this outcome, you’ll see how perfectly competitive firms can be both allocatively and productively efficient. This means these markets allocate resources without wasting and also provide the maximal amount of satisfaction for the society.

LEARNING ACTIVITIES

The learning activities for this section include:

• Reading: Efficiency in Perfectly Competitive Markets
• Self Check: Perfectly Competitive Markets and Efficiency

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.