Question

What are some advantages of having a monopoly on a certain product or service? What are some of the dangers? Will Mark BRAINLIEST!!

Answer 1

Answer:

For a company, having a monopoly comes with many advantages because they are the only ones who sell the product or service.  This means that everyone who requires that service or product has to buy it from them, so they will have high profits and no competition.

Explanation:

Additional advantages are that, since they are the only one who provides a good or service, they can sell it at whatever price they want.

However, there are potential dangers to having a monopoly, especially for consumers.  Since the company is the only one who sells the product, the quality of the good or service can often be poor.  Consumers will also be forced to pay high prices because there is no competition and, therefore, no other option to choose from.