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- The total surplus in a market is lower than it could be.
- Correct label:
- Deadweight loss
- A monopoly sells products grouped together rather than separately.
- Correct label:
- Bundling
- The monopolist charges more for its products or services than what is considered optimal for society.
- Correct label:
- Inefficient price
- A group seeks to restrict the number of government-issued licenses.
- Correct label:
- Rent seeking
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