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29 August, 07:01

Why are monopolies problematic? What are 2-3 issues with monopolies?

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  1. 29 August, 08:41
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    Monopoly simply means a business that is a sole provider of a particular service. Mentioned following are some issues with monopoly:

    a) As sole providers, they can raise the prices whenever they want.

    2) They can supply low-quality products as consumers have no option, expect them.

    3) They restrict free trade in the market. and sometimes own small venture to retain their sole character.
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