3 ms·
it is a fascinating outcome when a vertically integrated monopoly is the cheapest option, and best consumer value. The challenge is figuring out if the firm is
by s1artibartfast 2y ago
it is a fascinating outcome when a vertically integrated monopoly is the cheapest option, and best consumer value. The challenge is figuring out if the firm is really providing the best value, or just a local minimum.
- modeless 2y agoMy understanding is Standard Oil provided good service for low prices in most cases. It's not always the case that monopolies provide super expensive or bad service.
- MichaelZuo 2y agoYes, hence why it lasted for over a decade even with >>50% of the market in many jurisdictions.
- DanielHB 2y ago> vertically integrated monopoly is the cheapest option I would like to remind you that you can use google, gmail, google maps, google drive and a bunch of other services for free (and the best consumer value even if accounting for their data gathering).