In the game is there a deadweight loss from monopoly

Reference no: EM131132966

Rules of Monopoly. In the board game Monopoly, a player who gets the third deed for a group of properties (for example, the third of three orange properties) doubles the rent charged to all other players who land on any property in the group. Similarly, a player who has a single railroad charges a rent of $25, while a player who has all four railroads charges a rent of $200 for each railroad.

a. Are these pricing rules consistent with the analysis of monopoly in this chapter?

b. In the game, is there a deadweight loss from monopoly? Why or why not?

Reference no: EM131132966

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