Question

Imagine you invented the cure for cancer. You open a factory and manufacture the miracle medicine. No one else can make your new medicine. You invented it. Should you not be able to become wealthy and sell it at a price that helps you make money? Do you think monopolies should be allowed to exist in an economy? Explain why or why not. Your post should be at least 150 words. You must comment on 2 classmates posts. Each comment should be at least 2 sentences.

Answer 1

Yes, they should be allowed because they can charge higher prices and make more profit than in a competitive market. The can benefit from economies of scale – by increasing size they can experience lower average costs – important for industries with high fixed

Step-by-step explanation:

I can not write your whole essay for you, but you can paraphrase my above answer.