Sign In
Ask Question
Ruth Houston
History
9 March, 01:16
Ow do monopolies effect the price of good
+3
Answers (
1
)
Nicholas Becker
9 March, 01:21
0
When a company has a monopoly on a product, like diamonds for example, they can set whatever price they want. They limit the amount of products they put out for sale, the higher the demand the less products are put out. So they can jack up the price and we have to pay it in order to get the product. DeBeers has a monopoly on diamonds and they set the price at whatever they want, because they own most of the diamonds in the world. So they can charge what ever they want since there is no competition, or very little competition.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“Ow do monopolies effect the price of good ...”
in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Who conquered greece after the peloponnesian war?
Answers (1)
Which region seem to provide the greatest obstacle to railroad expansion
Answers (1)
How did the Articles Of Confederation impact the Constitution?
Answers (1)
A major goal of the Progressive movement was to
Answers (1)
1. Name 3 Reasons England became the 1st European country to move forward Industrialization
Answers (1)
New Questions in History
What is the difference between scarcity and a shortage?
Answers (2)
How did Portugal receive the title of the "First Global" Empire? A. Portugal was the first European country to settle a foreign colony. B. Portugal was the first European country to overtake a European colony. C.
Answers (2)
To pay the government's debt, President George H. W. Bush decided to
Answers (1)
Who made the biggest impact on Texas?
Answers (1)
The altamont rock festival in december 1969, was a peace-filled concert headlined by the rolling stones. true or false
Answers (1)
Home
»
History
» Ow do monopolies effect the price of good
Sign In
Sign Up
Forgot Password?