The main disadvantage of a monopoly is that it: A. eliminates free market competition. B. encourages consumers to import goods. C. removes barriers to entry in a market. D. sets limits on the profits companies can earn.
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This means that the monopolist has the power to control the market, set prices, and determine the quantity of goods or services produced. A. eliminates free market competition: This is true. In a monopoly, there is no competition, which can lead to higher prices Show more…
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