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Economics

Explain which types of market inefficiencies derive from monopolies.

Please write a one-page paper on this subject by following the instructions below.
A monopoly is a firm that is a sole seller in a market. Monopolies can decide to set different prices for different consumers through price discrimination. In monopolistic competition, there are many firms that sell products that are similar but not identical.
1-Explain which types of market inefficiencies derive from monopolies. Use examples from the textbook to support your claims.
2- Describe the types of inefficiencies that derive from monopolistic competition. Use examples from the textbook to support your claims.
3- How are monopolies and monopolistic competitive firms profitable? Use examples from the textbook to support your analysis.