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SOLVED:The late economist Harvey Leibenstein argued that the loss of economic efficiency in industries that are not perfectly competitive is often understated. He argued that when competition is weak, firms are under less pressure to adopt the best techniques or to hold down their costs. He referred to this effect as "x-inefficiency." If x-inefficiency causes a firm's marginal costs to rise, use a graph to show that the deadweight loss in Figure 15.5 on page 520 understates the true deadweight l
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