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vampirchik [111]
3 years ago
9

How do monopolies harm the consumer?

History
1 answer:
GrogVix [38]3 years ago
5 0
Monopolies are the only provider, they can set pretty much any price they choose,regardless of the demand, because they know the consumer has no choice. They can also supply inferior products.
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Answer:

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During the Civil War, the Republican-controlled Congress worked to make the dream of a farmer’s paradise a reality by passing the Homestead Act, which granted up to 160 acres of western land to loyal citizens. The US government also helped westward expansion by granting land to railroad companies and extending telegraph wires across the country.^1  

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After the Civil War, the dream of independent farms remained, but the reality was more complex. Just as big business was coming to dominate the factories of eastern cities, so too were powerful corporate interests beginning to elbow out the independent farmers, miners, and cowboys who had built the image of the West as the land of opportunity for the rugged individual.

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