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

Name: Many people believe that a monopolist can set his own price which 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 his own price which consumers have little recourse but to pay,and thereby reap enormous profits.Is this true?

Many People Believe That a Monopolist Can Set His Own