Efficiency in perfect competition (HL only)

IB Economics: Efficiency in perfect competition (HL only)

This page focuses on the concepts of productive and allocative efficiency and looks at why firms in perfect competition will be both productive and allocatively efficient in the long run. Productive efficiency is no longer part of the new syllabus but allocative efficiency remains.Why will firms in perfect competition achieve allocative efficiency in both the short run and the long run. Lesson time: 85 minutes


To access the entire contents of this site, you need to log in or subscribe to it.

You can also request a Free trial or check the blog (which is also free)

All materials on this website are for the exclusive use of teachers and students at subscribing schools for the period of their subscription. Any unauthorised copying or posting of materials on other websites is an infringement of our copyright and could result in your account being blocked and legal action being taken against you.