The market imperfection brought about by monopoly is referred to as:

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Monopoly leads to deadweight loss because the monopolist restricts output below the socially optimal level in order to charge a higher price and earn greater profits. This results in a loss of consumer and producer surplus, which is the deadweight loss. Price discrimination is a strategy used by some monopolists to increase profits by charging different prices to different customers. Reduction in output through government regulation is not necessarily a consequence of monopoly, as governments can also regulate monopolists to increase output. Monopoly's gain is not a market imperfection, but rather a result of market power.

The Market Imperfection Brought About by Monopoly Is Referred to As