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Why are monopolies inefficient quizlet?A monopoly is allocatively inefficient because the monopoly price is greater than the marginal cost of production.
Are monopolies always inefficient quizlet?Monopolies are always inefficient since they create higher prices for consumers. Consumers typically lose less than producers gain in monopoly markets. Monopolies decrease consumer surplus but increase total surplus in an economy.
Which is the main criticism the allocative inefficiency charge that economists make of monopolies?The Inefficiency of Monopoly. Most people criticize monopolies because they charge too high a price, but what economists object to is that monopolies do not supply enough output to be allocatively efficient.
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What is the reason behind why monopolies are Allocatively inefficient quizlet?
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