Question

Describe the important difference in the way an economist and a businessperson might view a monopoly.

Answer 1

Explanation:

Basic dissimilarity between view of economist and a businessman towards monopoly is- An economist think about welfare of the society. Economists see it as inefficiency, or deadweight loss. Businessperson might view...

Basic dissimilarity between view of economist and a businessman towards monopoly is- An economist think about welfare of the society. Economists see it as inefficiency, or deadweight loss. Businessperson might