Economists consider monopolists to be efficient, since they earn greater profits than perfect competitors. to be...

Economists consider monopolists

		to be efficient, since they earn greater profits than perfect competitors.
		to be inefficient since all consumer surplus is transferred to the monopolist in the form of profits.
		to be inefficient since they earn less producers’ surplus than all firms taken together in a competitive market.
		to be inefficient since the monopolist restricts output from the competitive level, thus creating dead-weight loss.

Expert Solution

Rahul Sunny answered 3 years ago

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