Monopoly is inefficient, Economists sometimes say that

Monopoly is inefficient

Reference no: EM13335873

1. Give some reason why collusions have a natural tendency to breakdown? and show how behavior of its own members may threaten the survival of a cartel. Show how the behavior of outsiders may threaten it.

2. Economists sometimes say that monopoly is "inefficient". Explain the meaning of "inefficiency" in this context. Use a diagram to show the inefficiency.

Reference no: EM13335873

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