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If monopolies were allowed to exist, they could lead to a lack of competition, resulting in higher prices, reduced quality of goods and services, and limited choices for consumers. Monopolies might also stifle innovation, as the lack of competitive pressure diminishes the incentive to improve products or develop new technologies. Additionally, monopolistic practices can lead to significant economic inequality and concentration of power, potentially undermining democratic processes and consumer rights. Overall, the absence of competition can harm both the economy and society as a whole.
What else can I help you with?
How were monopolies ended?
Because people criticized that monopolies were unfair and that companies that were using monopolies were too vague. So the government stepped in and made a law that monopolies were no longer allowed. Think of it as the game monopoly. What is your goal? Your goal is to get money and buy all of the companies that are in your way so you would buy their company and there you go, they were out of your way. I hope that helps.
Why do monopolies exist?
Monopolies exist for two reasons: 1.) The overhead cost is to high for competition to exist. For example a power company owns all the power lines and necessary equipment to generate electricity for a city. If another company decided to compete it would need to build an infrastructure from scratch resulting in to high of an overhead. 2.) The other reason is when a single entity controls a significant amount of a market resulting in a lack of economic competition.
Can monopolies become oligopolies?
If you have a monopoly, why would you want an oligopoly? You make more profit alone.
How do you characterize monopolies in the Philippines?
Due to the fact that monopolies have existed in the Philippines for so long, it's almost like a dictating relationship. Meralco is one of the major monopolies. Customers have no choice on what to pay, or who provides them their service. Complaints or not paying a bill, will automatically suspend or cut of your electricity.
What would a shopping trip be like if all businesses were monopolies?
VERY expensive products, limited choices, and ZERO customer service.
What would happen if these standards didn't exist?
We would not no what to do
What would happen if matter didn't exist?
nothing would happen because there would be nothing
How were monopolies ended?
Because people criticized that monopolies were unfair and that companies that were using monopolies were too vague. So the government stepped in and made a law that monopolies were no longer allowed. Think of it as the game monopoly. What is your goal? Your goal is to get money and buy all of the companies that are in your way so you would buy their company and there you go, they were out of your way. I hope that helps.
What would happen if God didn't exist?
If god didn't exist then the hole world and all the planets and galaxy's would never happen
If there was no planets what will happen?
This question would not exist!
What would happen if the ninth amendment did not exist?
the thing that would happen is there would be many riots
What would happen if the earth never spun?
We would not exist.
What will happen if toys did not exist?
If toys did not exist, children and their parents would invent them.
What would happen if we didnt have the 8th amendments?
what would happen if the 8th amendment didn't exist
What would happen if polonium didn't exist?
nothing
What would happen if the gulf coast did not exist?
Nothing !
What would happen if the government didnt exist?
we have freedom
