However, the loss to the monopolist will be more than offset by the gain in efficiency, in the sense that the monopolist could hypothetically be compensated for its loss while still leaving a net gain for others in the economy, a Pareto improvement.
The loss to the monopolist will be more than offset by the gain in efficiency. This was however. The monopolist could hypothetically be compensated for its loss while still leaving a net gain for others in the economy. This was in the sense this. The economy is a Pareto improvement.