How do monopolies affect the price of goods?
A monopoly contributes to price increases, leads to the creation of inferior products and discourages innovation. Monopolies inhibit free trade and limit the effectiveness of a free-market economy.
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Following WWI in North America and most of Europe there was a recession that led to economic decline. The recession in the United States did not last long and was followed by nearly a decade of major economic growth that made the United States the most powerful economy in the world.
