Identify one advantage and two disadvantages of a monopoly.

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07-10-2014
Business

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Identify one advantage and two disadvantages of a monopoly.

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icedraptor88 icedraptor88 · Answer 1 · 2014-10-07T21:37:20-04:00

icedraptor88 icedraptor88

07-10-2014

A monopoly is like a patent; It's good if you own one because you can control something and be the only person who makes money off of it.
It's bad because it defeats competition between other competing companies, and prices will go up
It's even worse when you consider what would happen if a dozen people or two monopolize the whole world. Then no one else would make money
Hope this helps!

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