Yes, they can. Since they have a low amount of competitors. This means the competitors won't be eating up their profits. They can exercise the method of putting a higher price at a lower output, therefore people who really need the product are forced to buy it. or example, if Apple was a monopoly they could increase the price of a mackbook to $4000 and people would still buy it and therefore they are increasing their profits. Monopolies could also put some of their profits in research and development so they will be non contestable and the consumers will appreciate the advanced technology therefore their growth will increase. This will increase or maintain their abnormal profits.
Monopolies can make excessive profits by over-charging consumers.
Monopolies can make excessive profits by over-charging consumers.
To make more profits for themselves.
I think it is because people get jealous that others are more successful than them, so they convince an army of idiots to try to make monopolies illegal.
Monopoly and Oligopoly are both the only firms that may make positive profit in the long run. Under LONG-RUN MARKET TENDENCY OF PRICE AND ATC: Monopoly P>ATC and Oligopoly P>ATC both will have postive profits, however it possible to turn to zero profits if there isn't capitalization of the profits or any rent-seeking activities or if the market is contestable. But moreover, the answer you're looking for is the above that bother Monopoly and Oligopoly will have positive profit in the long run.
Monopolies can make excessive profits by over-charging consumers.
Monopolies can make excessive profits by over-charging consumers.
They were used to take over small business, and form monopolies.
To make more profits for themselves.
I think it is because people get jealous that others are more successful than them, so they convince an army of idiots to try to make monopolies illegal.
In the long period, economic profit cannot be sustained. The arrival of new firms or expansion of existing firms (if returns to scale are constant) in the market causes the (horizontal) demand curve of each individual firm to shift downward, bringing down at the same time the price, the average revenue and marginal revenue curve. The final outcome is that, in the long run, the firm will make only normal profit (zero economic profit).
Monopoly and Oligopoly are both the only firms that may make positive profit in the long run. Under LONG-RUN MARKET TENDENCY OF PRICE AND ATC: Monopoly P>ATC and Oligopoly P>ATC both will have postive profits, however it possible to turn to zero profits if there isn't capitalization of the profits or any rent-seeking activities or if the market is contestable. But moreover, the answer you're looking for is the above that bother Monopoly and Oligopoly will have positive profit in the long run.
If you have a monopoly, why would you want an oligopoly? You make more profit alone.
yes
If you can smuggle cocaine into the US from Columbia, you can make very big profits, at the risk of a very long jail sentence.
They learn to specialize to become more efficient and make greater profits.
They learn to specialize to become more efficient and make greater profits.