Economics
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Study Notes
Monopoly Power and Economic Efficiency and Welfare
- Level:
- A Level
- Board:
- AQA, Edexcel, OCR, IB
Last updated 3 Jul 2018
The conventional argument against market power is that monopolists can earn abnormal (supernormal) profits at the expense of efficiency and the welfare of consumers and society.
Revision Video: Monopoly Power - Tips for Strong Analysis and Great Evaluation
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