Ask Question
28 November, 20:05

Why might a monopoly hurt a market

0
Answers (2)
  1. 28 November, 20:35
    0
    A monopoly is able to control all output of a certain good or service, meaning that they are the only option for buying a certain thing. This means that they can charge whatever price they want, forcing people to pay exuberant prices for things they need. This can hurt the consumer part of the market and give monopolies an unfair advantage, harming the buying/selling cycle.
  2. 28 November, 21:55
    0
    A monopoly can charge higher prices and reduce economic welfare.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Why might a monopoly hurt a market ...” in 📙 Social Studies if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers