Monopolists are said to be allocatively inefficient because
at the profit-maximizing output, price is greater than AVC.
of economies of scale.
at the profit-maximizing output, the price of the product
exceeds its marginal cost which creates dead-weight losses to
society.
they produce where MR > MC.
Monopolists are said to be allocatively inefficient because at the profit-maximizing output, price is greater than AVC.
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answerhappygod
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Monopolists are said to be allocatively inefficient because at the profit-maximizing output, price is greater than AVC.
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