Answer to Question #88870 in Microeconomics for Balkaran

Question #88870
Illustrate and explain using diagrams how a single seller within a market can maintain an inefficient allocation of resources.
1
Expert's answer
2019-05-01T10:28:46-0400

A single seller or monopolist will produce less at higher price to maximize his profits, so within the market he will maintain an inefficient allocation of resources and deadweight loss will be created.


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