Kyan Grimes

Social Studies

1 October, 14:10

What must a monopoly, such as a public utility, account for when setting its prices? A monopoly, because it has no competitors, can set prices as high as it likes. A monopoly must consider customer demand, and then set prices at the most profitable level. A monopoly must take into account what its top competitors are charging for the same product or service. A monopoly has no say in what prices it will charge because the government sets the prices for all monopolistic industries.