how do monopolies affect the price of goods? monopolies always result in higher consumer prices. monopolies…

how do monopolies affect the price of goods? monopolies always result in higher consumer prices. monopolies always result in lower consumer prices. monopolies have no effect on the cost of goods. monopolies can lower and raise their prices at will.

how do monopolies affect the price of goods? monopolies always result in higher consumer prices. monopolies always result in lower consumer prices. monopolies have no effect on the cost of goods. monopolies can lower and raise their prices at will.

Answer

Brief Explanations:

A monopoly is a market structure with a single - seller. Without competition, the monopolist has market power. It can restrict output and charge higher prices to maximize profit. While it doesn't always result in the highest - possible price (as it still has to consider consumer demand), it generally has the ability to set prices above the competitive level.

Answer:

Monopolies always result in higher consumer prices.