Monopolization of a previously competitive market leads to

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When a previously competitive market is monopolized, there is often reduced production because the monopolist has less incentive to produce at a higher level. Product quality may also suffer because the monopolist now has less competition and therefore, fewer incentives to improve their products. Costs and prices tend to increase in a monopolized market because the monopolist has the power to raise prices without fear of losing business to competitors.

Monopolization of a Previously Competitive Market Leads to