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3 years ago

What problems did monopolies create?

History

1 answer:

qaws [65]3 years ago

6 0

Answer:

PROBLEMS CREATED BY MONOPOLIES:

1. monopoly can cause deadweight loss, or a lack of equilibrium between supply and demand.

2. disadvantages of monopolies include price-fixing, low-quality products, lack of incentive for innovation, and cost-push inflation.

3. it can cause inequality, and political abuse.

4. Monopoly tends to limit options available to consumers. Monopoly results in allocative inefficiency--in other words, the monopoly price is higher than the marginal cost of production. Profits do not encourage entry into the industry.

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The correct answers to this open question are the following.

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<h3>What is a Diagram?</h3>

This refers to the pictorial representation of information, data or facts that is easily readable and understood.

Hence, we can see that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.

Read more about Japanese Navy here:.

brainly.com/question/20290812

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