A loss in social welfare is caused because a monopoly market produces a smaller output than that of a perfectly competitive market. A monopolist produces too little output at a higher price.

This concept of "underproduction" has been the topic of many research studies, concluding that if markets would deviate from a perfectly competitive market structure, it may cause a lack of economic efficiency.

Research the term monopoly underproduction and:

1. Summarize the reasons behind such a claim.
2. In your research, explain "the deadweight loss" concept.

Provide specific examples to help support your discussion.