Simulation results.

11 Quantity 18

$5.25 Price $2.20

$35.75 Profit $3.60

A. Explain which types of market inefficiencies derive from monopolies. Use examples from the textbook to support your claims.

B. Describe the types of inefficiencies that derive from monopolistic competition. Use examples from the textbook to support your claims.

C. How are monopolies and monopolistic competitive firms profitable? Use examples from the textbook to support your analysis.