The presence of a monopoly helps:
A)producers.
B)consumers.
C)society overall.
D)All of these are helped by a monopoly.

Question

Quizplus · Accepted Answer

The presence of a monopoly helps producers as they are the sole providers of a particular product or service, which allows them to charge higher prices and earn greater profits without fear of competition. However, monopolies can be harmful to consumers and society as a whole by limiting consumer choice, stifling innovation, and potentially leading to higher prices and lower quality goods or services.

The Presence of a Monopoly Helps