Monopoly power is:
A)unwelcome by all small businesses.
B)welcomed by some small businesses.
C)helpful in very large industries.
D)helpful in very small industries.

Question

Quizplus · Accepted Answer

Monopoly power can be helpful to some small businesses, particularly those that are able to establish a dominant position in a niche market. This can give them greater pricing power and enable them to earn higher profits. However, for most small businesses, monopoly power is unwelcome as it creates significant barriers to entry and restricts competition, making it more difficult for new firms to compete and innovate. In very large industries, monopoly power can be particularly harmful, leading to market distortions and reduced consumer choice. In very small industries, monopoly power may not have as great an impact, but it can still limit competition and stifle innovation.

Monopoly Power Is