Discuss the economic effects of monopoly.

I have 7 economics question there is no word limit but please dont make it look like an essay.

 

Discuss the economic effects of monopoly. Be sure to include the following:

 

1. Monopoly price compared to the price of a competitive firm

 

2. Efficiency of resource allocation

 

3. Monopoly and its impact on large-scale production and unit cost of production

 

Explain the significance of resource pricing in terms of the following:

 

1. Money-income determination

 

2. Cost minimization

 

3. Resource allocation

 

4. Policy issues

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