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Why might a monopoly or a trust in a certain industry be bad for both consumers and workers?

2 Answers

2 votes
since consumers have no choice but to buy and trust the monopoly they have to pay higher prices usually than if there were a competition. if there were a competition then they would be able to choose from the price they would want to pay.
User Midnight
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Since consumers have no choice but to buy from the trust/monopoly they have to pay (usually) higher prices than they would if there were competition between businesses owned by different people. Without competition there might be little incentive to improve product quality and to develop new products.

User Gengns
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