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

how do monopolies affect the price of goods?\nmonopolies always result in higher prices.\nmonopolies always result in lower prices.\nmonopolies do not affect the cost of goods.\nmonopolies lower and raise their prices at will.

how do monopolies affect the price of goods?\nmonopolies always result in higher prices.\nmonopolies always result in lower prices.\nmonopolies do not affect the cost of goods.\nmonopolies lower and raise their prices at will.

Answer

Brief Explanations:

A monopoly is a market structure where there is a single seller. With no competition, the monopolist can restrict output. According to the law of supply and demand, when output is restricted, the price tends to rise. While in some cases (like natural monopolies with economies of scale) prices might not be extremely high in the long - run under regulation, generally, without competition to drive prices down, monopolies have the power to set higher prices compared to competitive markets.

Answer:

Monopolies always result in higher prices.