Traditionally,economists have regarded monopoly as an undesirable market structure because

Question

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Monopoly is considered allocatively inefficient because it restricts output and charges a higher price than the marginal cost, leading to an underallocation of resources. Although a monopoly may earn large profits, it does not necessarily minimize costs or foster innovation, and may even lead to confrontational labor relations in certain cases.

Traditionally,economists Have Regarded Monopoly as an Undesirable Market Structure Because