{"id":417,"date":"2020-03-24T04:51:38","date_gmt":"2020-03-24T04:51:38","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-inefficiencies-in-monopolies\/"},"modified":"2023-05-22T19:21:06","modified_gmt":"2023-05-22T19:21:06","slug":"learning-outcome-inefficiencies-in-monopolies","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-inefficiencies-in-monopolies\/","title":{"raw":"Outcome: Inefficiencies in Monopolies","rendered":"Outcome: Inefficiencies in Monopolies"},"content":{"raw":"<h2>What you\u2019ll learn to do: explain why a monopoly is inefficient using deadweight loss<\/h2>\nIn this outcome, you'll see why monopolies are inefficient. They&nbsp;produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry. Because of this, they are neither allocatively or productively efficient.\n\nHere are some&nbsp;of the&nbsp;specific things you\u2019ll learn to do in this section:\n<ul>\n\t<li>Differentiate between a single price monopolist and a price discriminating monopolist<\/li>\n<\/ul>\n<h3>LEARNING ACTIVITIES<\/h3>\nThe learning activities for this section include the following:\n<ul>\n\t<li>Reading: The Inefficiency of Monopoly<\/li>\n\t<li>Reading:&nbsp;Monopolies and Deadweight Loss<\/li>\n\t<li>Reading: Price Discrimination<\/li>\n\t<li>Self Check: Inefficiencies in Monopolies<\/li>\n<\/ul>\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do: explain why a monopoly is inefficient using deadweight loss<\/h2>\n<p>In this outcome, you&#8217;ll see why monopolies are inefficient. They&nbsp;produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry. Because of this, they are neither allocatively or productively efficient.<\/p>\n<p>Here are some&nbsp;of the&nbsp;specific things you\u2019ll learn to do in this section:<\/p>\n<ul>\n<li>Differentiate between a single price monopolist and a price discriminating monopolist<\/li>\n<\/ul>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include the following:<\/p>\n<ul>\n<li>Reading: The Inefficiency of Monopoly<\/li>\n<li>Reading:&nbsp;Monopolies and Deadweight Loss<\/li>\n<li>Reading: Price Discrimination<\/li>\n<li>Self Check: Inefficiencies in Monopolies<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n","protected":false},"author":32,"menu_order":9,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-417","chapter","type-chapter","status-publish","hentry"],"part":400,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/417\/revisions"}],"predecessor-version":[{"id":418,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/417\/revisions\/418"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/400"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/417\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=417"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=417"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=417"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}