The profit isn’t what makes the monopoly inefficient, it’s what makes the market inefficient. By absorbing all the excess product it limits the available funds for other products. On top of the fact that a monopolies ability to disregard demand (and maintain high profits)
Isn’t that what they said?
The profit isn’t what makes the monopoly inefficient, it’s what makes the market inefficient. By absorbing all the excess product it limits the available funds for other products. On top of the fact that a monopolies ability to disregard demand (and maintain high profits)