What do you think are the benefits for monopoly

[Stardom22]

Monopoly is the state whereby only one entrepreneur runs a certain type of business in a given geographical market. In this business the entrepreneur ought to enjoy exorbitant profits and patronisation for the business. What are the other benefits apart from that.

 

[gwolf666]

One major advantage of a monopoly, aside from high profits, is stability. Since the company doesn’t face direct competition, it can plan long-term projects without the constant pressure of rivals undercutting prices or stealing customers. This allows for better control over production, pricing, and quality. Another benefit is consistency in the market, because consumers know where to get a product or service, and the business can maintain a steady supply. Monopolies can also lead to efficiency in some cases, especially when large-scale production lowers overall costs through economies of scale. With enough resources, a monopoly might also invest heavily in research and innovation, improving its products or production processes. However, while these benefits exist, they often depend on the company’s ethics and willingness to balance profit with fairness. Without regulation or competition, monopolies can easily become exploitative, reducing quality or increasing prices excessively for consumers.

 

[Augusta]

Without competition, monopolies can set prices and keep pricing consistent and reliable for consumers