monopoly deadweight welfare loss Flashcards
1
Q
why do they cause deadweight welfare loss
A
-welfare: sum of producer and consumer surplus
-society surplus: at usual: bigger
-in monopoly: lower
-lack of competition
microeconomics > monopoly deadweight welfare loss > Flashcards
why do they cause deadweight welfare loss
-welfare: sum of producer and consumer surplus
-society surplus: at usual: bigger
-in monopoly: lower
-lack of competition