Places to visit usa in winter for , the owner of the firm) is also a member of society. Thus, this transfer of money reflects a shifting of money from one member of society (the customer) to another (the owner of the monopoly firm). This may raise questions of equity or fairness, but not questions of efficiency. And it is the latter, namely efficiency, that determines what constitutes cost to society overall. Nevertheless, an implication of the higher prices charged by monopolists, is a reduction in the supply of the good or service sold, as some costumers will be priced out of the market. And this does raise issues of efficiency. In particular, if the monopolist is charging a price above the cost of production and as a result, some people will no longer purchase the good or service, even though they would have been willing to pay for all the costs of producing it, then the fact that these transactions do not take place is a cost to society. Places to visit usa in winter 2016.