False. A perfect market is still socially valuable, because sellers and buyers receive surpluses. The buyer surplus is the difference between the value that the good has to a particular buyer and the price at which this buyer can acquire it. (A similar argument applies to the seller—the nonmarginal producer can sell the good for a higher dollar amount than it costs to provide the good.) It is only the “marginal” buyer and seller that get no surplus. All inframarginal buyers and sellers are better off.