What mean when economist says that monopoly output is little, Microeconomics

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What mean when economist says that monopoly output is little

Problem

What does it mean when an economist says that monopoly output is "too little" or a monopoly price is "too high"? By what standard? Compared with what?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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