12∞ · Question 10.7.3
How do monopolies affect ordinary people?
Through higher prices, lower wages, and fewer choices. When a few firms dominate an industry, they need not compete hard for customers or for workers.
From the book 12∞ Twelve to Infinity by D.R. Davenport. The full answer is free to read with an iBelieve account.
Where it sits in the book
- Part
- 10: Money, Energy, Work, and Abundance
- Gate
- 10.7: Inequality and the System
- In print
- Page 340
- ← 10.7.2 · Why does poverty persist in a wealthy world?
- 10.7.4 → · What is economic “rent,” and why does it matter?
- All of Part 10
Topics
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