Are monopolies based on free trade bad for consumers?
Ive been looking into Rockefellers life and what he did with standard oil. His process of helping the Railroads, Barrel makers, pipelines and shippers lead to drastically lower prices for Karosene. So what i want to know is are monopolies really bad for consumers if the marked is open and free? Or, is the label of a monopoly a boogie man used by the government to limit real competition?
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Zoe Vin commented
Such a great perspective—thanks for sharing this!
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anisa putri commented
Monopolies can be detrimental to consumers by causing inefficiency, lack of innovation, and higher prices. However, some monopolies can benefit consumers if prices are regulated, or if high entry costs discourage initial investment in a sector, thereby reducing economic inefficiency.https://vipmeja.me/