186 Outcome: Inefficiencies in Monopolies (150/160) -- Microeconomics

186 Outcome: Inefficiencies in Monopolies What you’ll learn to do: explain why a monopoly is inefficient using deadweight loss In this outcome, you’ll see why monopolies are inefficient. They produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry. Because of this, they are neither allocatively or productively efficient. Here are some of the specific things you’ll learn to do in this section: - Differentiate between a single price monopolist and a price discriminating monopolist LEARNING ACTIVITIES The learning activities for this section include the following: - Reading: The Inefficiency of Monopoly - Reading: Monopolies and Deadweight Loss - Reading: Price Discrimination - Self Check: Inefficiencies in Monopolies Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.