A single-price monopoly is ______. A. Inefficient because it converts consumer surplus to producer surplus B. Inefficient
Question:
A single-price monopoly is ______.
A. Inefficient because it converts consumer surplus to producer surplus
B. Inefficient because it produces too small an output and creates a deadweight loss
C. Efficient because buyers are paying a price equal to their willingness to pay
D. Efficient because it is the only producer of the good
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