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The purpose of a monopoly is to have control of the entire section of a part of the economy. If someone has a monopoly over a certain thing they are the only people who can provide that service or product so they will have the ability to make their prices really high.

Ex. if one company owned all the gas stations in a 50 mile radius they could sky rocket their gas prices and people would still buy gas from them because they have nowhere else to buy gas.

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14y ago

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