In a monopoly market, how does consumer surplus typically change compared to a competitive market?

In a monopoly market, consumer surplus usually decreases compared to a competitive market. Consumer surplus is the difference between what consumers are willing to pay for a product and what they actually pay. In a competitive market, many sellers compete, which helps keep prices lower and allows consumers to benefit more. However, in a monopoly, there is only one seller who can set higher prices since there is no competition, leading to less consumer surplus. For example, if a drug company is the only provider of a life-saving medicine, they might charge a high price, resulting in consumers paying much more than they would in a market with multiple providers, thus reducing their overall benefit.