Micro: Unit 4.4 -- Monopolistic Inefficiency

Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: - Discuss how "price making" power allows monopolies to over-charge consumers compared to perfect competitive markets - Demonstrate how monopolies under-produce their output, causing them to be allocatively inefficient - Compare the consumer and producer surplus of an allocatively efficient industry to that of a monopoly - Explain why monopolies feel no pressure to produce their output at productively efficient levels Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video: https://www.teacherspayteachers.com/Product/Monopolistic-Inefficiency-Distance-Learning-Activity-4969985 Follow our store on Teachers Pay Teachers https://www.teacherspayteachers.com/S... Look for us on Social Media: Instagram -- http://www.instagram.com/youwillloveh... Facebook -- http://www.facebook.com/youwilllovehi... Subscribe to our YouTube Channel: https://www.youtube.com/youwillloveeconomics Check out our website for teaching tips and insight from us- https://sites.google.com/view/you-will-love-history/home