For a number of reasons, economies tend to do best when as much competition as possible is done within them.
And for a number of reasons (nonconvexities of a certain sort, mostly involving duplication of labor), they also tend to do worst. When you add these reasons together, you get a curve that is not a priori best or worst at any extreme.
And for a number of reasons (nonconvexities of a certain sort, mostly involving duplication of labor), they also tend to do worst. When you add these reasons together, you get a curve that is not a priori best or worst at any extreme.