The monopolization of a previously competitive industry will lead to restricted production and higher prices.

Question

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When one company or entity dominates a particular industry, they have the power to set prices, limit production, and restrict competition. As a result, consumers may end up paying higher prices for goods or services they need or want. The lack of competition also reduces incentives for the dominant company to innovate or improve their products, which can have negative long-term effects on the industry as a whole. Overall, the monopolization of a previously competitive industry tends to benefit the dominant company at the expense of consumers and smaller businesses.

The Monopolization of a Previously Competitive Industry Will Lead to Restricted