One of the economic effects of monopoly is an income transfer from consumers to the firm.

Name: One of the economic effects of monopoly is an income transfer from consumers to the firm.
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In a monopoly, the firm has significant control over the price of its product or service, often leading to higher prices than in competitive markets. This results in an income transfer from consumers, who pay more for the product or service, to the monopolist firm, which earns higher profits.

One of the Economic Effects of Monopoly Is an Income