1. the deadweight loss due to monopoly: a. exists because the monopoly restricts output. b. would still exist in a competitive market. c. is equal to monopoly profit. d. represents a benefit to society. 2. which of the following is not a true statement? a. in a competitive market, p = mc at the efficient output. b. in a monopoly market, p = mr at the monopoly output. c. in a monopoly market, p > mc at the monopoly output. d. if p = mc, there is no deadweight loss.