Question: I don't know how to solve this problem I need your help, thank you very much (a) Explain the circumstances in which it could be

I don't know how to solve this problem I need your help, thank you very much

(a) Explain the circumstances in which it could be argued that monopoly power is naturally more efficient? (b) "Monopolies lead to welfare costs while perfect competition always leads to greater efficiencies". Critically evaluate the above statement

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