The late economist harvey leibenstein argued that the loss of economic efficiency in industries that are not perfectly competitive has been understated. he argues that when competition is weak, firms are under less pressure to adopt the best techniques or to hold down their costs. he refers to this effect as x-inefficiency if x-ineficiency causes a firm's marginal costs to rise, how is the deadweight loss caused by a monopoly understated? a. mc2 mc, suppose mc, is the marginal cost of production with perfect compettion and mc2 is the marginal cost of production with x-inefficiency loss. b. use the triangle drawing tool to shade in the deadweight loss with x-nefficiency label this shaded area deadweight lossa mom. c. carefully follow the instructions above, and only draw the required objects.

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.