id y , ▁or ▁a ▁binding ▁price ▁ce iling ▁or ▁price ▁floor ▁such ▁as ▁a ▁minimum ▁w age . ▁ ▁Ex amples ▁Assume ▁a ▁market ▁for ▁n ails ▁where ▁the ▁cost ▁of ▁each ▁n ail ▁is ▁$ 0 . 1 0 . ▁Dem and ▁decre ases ▁linear ly ; ▁there ▁is ▁a ▁high ▁demand ▁for ▁free ▁n ails ▁and ▁zero ▁demand ▁for ▁n ails ▁at ▁a ▁price ▁per ▁n ail ▁of ▁$ 1 . 1 0 ▁or ▁higher . ▁The ▁price ▁of ▁$ 0 . 1 0 ▁per ▁n ail ▁represents ▁the ▁point ▁of ▁economic ▁equilibrium ▁in ▁a ▁compet itive ▁market . ▁ ▁Mon opol y ▁If ▁market ▁conditions ▁are ▁perfect ▁competition , ▁produ cers ▁would ▁charge ▁a ▁price ▁of ▁$ 0 . 1 0 , ▁and ▁every ▁customer ▁whose ▁marg inal ▁benefit ▁exceed s ▁$ 0 . 1 0 ▁would ▁buy ▁a ▁n ail . ▁A ▁mon opol y ▁producer ▁of ▁this ▁product ▁would ▁typically ▁charge ▁whatever ▁price ▁will ▁yield ▁the ▁greatest ▁profit ▁for ▁themselves , ▁regardless ▁of ▁lost ▁efficiency ▁for ▁the ▁economy ▁as ▁a ▁whole . ▁In ▁this ▁example , ▁the ▁mon opol y ▁producer ▁charges ▁$ 0 . 6 0 ▁per ▁n ail , ▁thus ▁ex cluding ▁every ▁customer ▁from ▁the ▁market ▁with ▁a ▁marg inal ▁benefit ▁less ▁than ▁$ 0 . 6 0 . ▁The ▁dead weight ▁loss ▁due ▁to ▁mon opol y ▁pr icing ▁would ▁then ▁be ▁the ▁economic ▁benefit ▁for eg one ▁by ▁customer ▁with ▁a ▁marg inal ▁benefit ▁of ▁between ▁$ 0 . 1 0 ▁and