Many people believe that a monopolist can set their own price, that consumers have little recourse but to pay, and thereby reap enormous profits. Is this True?

Name: Many people believe that a monopolist can set their own price, that consumers have little recourse but to pay, and thereby reap enormous profits. Is this True?
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The Answer of Many people believe that a monopolist can set their own price, that consumers have little recourse but to pay, and thereby reap enormous profits. Is this True?

Many People Believe That a Monopolist Can Set Their Own