Question

How do monopolies affect the price of goods?

Monopolies always result in lower consumer prices.
Monopolies can lower and raise their prices at will.
Monopolies always result in higher consumer prices.
Monopolies have no effect on the cost of goods.

Answer 1

B. Monopolies can lower and raise their prices at will.
A monopoly's potential to increase prices generally is its most critical injury to customers. Because it has no manufacturing competition, a monopoly's price is the exchange price and demand is market interest. As the sole supplier, a patent can also refuse to serve clients

Answer 2

B) Monopolies can lower and raise their prices at will.

Step-by-step explanation:

On edg. 2021