16. Loss of welfare in monopoly is called:
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22
Answer:-
Deadweight welfare loss
Explanation:-
The monopolist is able to charge a higher price restrict total output and thereby reduce welfare because the rise in price to Pmon reduces consumer surplus. ... This is known as the deadweight welfare loss or the social cost of monopoly and is equal to the area ABC.
Answered by
1
Answer:
Dead weight welfare loss
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