Question

monopoly benefits for consumers

Answer 1

Answer:

Traditionally, monopolies benefit the companies that have them, as they can raise prices and reduce services without consequence. However, they can harm consumer interests because there is no suitable competition to encourage lower prices or better-quality offerings

Answer 2

Answer:

supernormal profits can be invested into development and innovation , leading to increased choice /improved product.

natural monopolies not having competition keeps costs lower ex. in water supply

intellectual property rights trademarks can be in consumer interest as they provide an incentive to innovate if supernormal profits can be made.