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27 November, 21:15

How did monopolies affect the price of goods?

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  1. 27 November, 21:26
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    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.
  2. 27 November, 21:32
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    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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