Rules of Monopoly. In the board game Monopoly, a player who gets the third deed for a group of properties (for example, the third of three orange properties) doubles the rent charged to all other players who land on any property in the group. Similarly, a player who has a single railroad charges a rent of $25, while a player who has all four railroads charges a rent of $200 for each railroad.
a. Are these pricing rules consistent with the analysis of monopoly in this chapter?
b. In the game, is there a deadweight loss from monopoly? Why or why not?