“The social cost of a monopoly comes from the fact that it charges a price higher than what consumers are willing to pay.” Do you agree or disagree? Why?

Disagree. The social cost of a monopoly comes from the fact that it charges a price higher than the market clearing price under perfect competition. The monopoly is able to sell at a higher price by producing a smaller quantity than in a perfectly competitive situation. As a result, resources are misallocated.