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27 November, 10:18

Society suffers a deadweight loss in a pure-monopoly market because

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  1. 27 November, 12:00
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    A pure-monoply means that a company does not have to compete with other producers within the market. Since they aren't competing with a good or service, they aren't competing with each others customers either. When a company does not have to compete on price/customers they may end up being greedy and have market failure.
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