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swat32
3 years ago
11

How did monopolies affect the price of goods?

History
2 answers:
frez [133]3 years ago
5 0
Monopolies would make the prices super low that competition was non existent. Since monopolies are lone providers, they can set any prices they choose. That's known as price-fixing, and they can do this regardless of demand because they know consumers have no choice.
Vinil7 [7]3 years ago
4 0

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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