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Welfare loss occurs in a monopoly because: a.the monopolist restricts output below the socially efficient level.b.the monopolist restricts the price below what would be charged

Welfare loss occurs in a monopoly because:

a.the monopolist restricts output below the socially efficient level.b.the monopolist restricts the price below what would be charged under perfect competition.c.total cost is not minimized.d.marginal revenue exceeds marginal cost.e.average variable cost is not minimized.

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