What must a monopoly, such as a public utility, account for when setting its prices? A monopoly, because it has no competitors, can set prices as high as it likes. A monopoly must consider customer demand, and then set prices at the most profitable level. A monopoly must take into account what its top competitors are charging for the same product or service. A monopoly has no say in what prices it will charge because the government sets the prices for all monopolistic industries.

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Jakayla Haas

18 June, 13:27

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Kathy Hansen · Answer 1

A monopoly must consider customer demand, and then set prices at the most profitable level.