2 ms·
you can't call a monopoly overpriced. the only reason monopolies are bad is because you can no longer tell what a fair price for a service is since you don't h
by nazgulnarsil 17y ago
you can't call a monopoly overpriced. the only reason monopolies are bad is because you can no longer tell what a fair price for a service is since you don't have competition to bring the price down towards its supply cost.
without competing prices it is impossible to tell what is and is not an efficient distribution of resources.