Monopoly quantity produces too little output at too high a cost but efficient quantity is where the demand equals the marginal cost.
<h3>What is a monopoly?</h3>
A monopoly refers to the dominant position of an industry or a sector by one company.
The efficient quantity of output is where the demand highly equals the marginal cost whereas monopoly quantity produces too little output at too high a cost.
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<span>The value of stock on the New York Stock Exchange fell by a fifth from its peak in 1929
</span><span>Businesses closed their doors, factories shut down
</span><span>The banks failed and most Americans lost their savings and investment
A quarter of Americans were unemployed</span>
I assume you mean ancient times. In the early times of human civilization other centers of civilization in this area were the Persians. Additionally, on the shores of the Mediterranean the Phoenicians were developing their culture.
I think It's either the second or last option. I'd go with the last option though.
Filial piety in Confucius is the virtue of respecting your elders and ancestors.
