monopolist, being the sole supplier creates some undesirable aspects in the
Monopoly leads to concentration of price and output of wealth which is against
the spirit of equality in the society.
monopoly price of a good is usually higher than that prevailing under
competition. The consumer has to pay higher prices for the products.
Monopoly is an inefficient type of
monopoly firm does not bother to improve the quality of the product as there is
no effective threat of the new firms to enter into the industry.
monopoly firm exploits the workers and pays them less wages.
to check and control the ill effects of monopoly, a number of steps are taken by
the government to regulate monopolies.