A Welfare Analysis of A Firm with a Monopoly

Monopoly power, also called market power, results in dead-weight loss. The power monopolist's have over price results in them producing less than the optimum quantity. This video shows students how to find the consumer surplus, producer surplus, and deadweight loss associated with monopoly power.
This video is made for 1st year college students or AP/IB Economics students. It focuses on foundational economic concepts.