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A firm with market power produces less than the socially efficient level of output because it charges a price that exceeds its marginal cost of production

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A firm with market power produces less than the socially efficient level of output because it charges a price that exceeds its marginal cost of production.

a. As a manager isn't market power your goal?

b. How do you balance your need for profit with society's need to produce goods and services as cheaply as possible?