"monopoly/cartel pricing" is a different phenomenon from "supply and demand" It's not market failure, which refers to mutually beneficial transactions not happ

"monopoly/cartel pricing" is a different phenomenon from "supply and demand" It's not market failure, which refers to mutually beneficial transactions not happening. monpoly/cartel power vs competition is what moves the price along the the axist between "cost to produce" and "value to consumer"