Pete has developed a new virtual reality headset that is so far advanced he effectively has a monopoly. His marginal cost is a constant $200, and his inverse demand is P = 800 – 4Q. What is the deadweight loss in this monopoly? a.) $0 b.) $45,000 c.) $11,250 d.) $22,500

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Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.