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Why are monopolies generally considered a bad thing from an efficiency standpoint? Are there instances where monopoly is a necessary market arrangement? What is the

  • Why are monopolies generally considered a bad thing from an efficiency standpoint?
  • Are there instances where monopoly is a necessary market arrangement?
  • What is the socially optimal price for a regulated monopoly?
  • How does the fair return price differ from the socially optimal price?Philosophically, do you believe a company that is producing a non-essential good should be prevented from achieving monopoly status if they abide by the law?Why or why not?

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