The existence of a monopoly:

Name: The existence of a monopoly:
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A monopolist has the ability to restrict output and raise prices, which results in a transfer of surplus from consumers to the monopolist. This means that a monopoly benefits the monopolist, but can harm consumers through higher prices and reduced output. It does not necessarily create a gain of total surplus or benefit the consumer, as they may be left worse off.

The Existence of a Monopoly