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Submitted: 1190 days and 10 hours ago.
Category: General
Value: $8
Status: AWAITING CUSTOMER ACTION
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They can charge whatever the customer will pay because as a monopoly, they have no competition. Mono- means "one."
In an open market each provider tries to price lower than the competition but not so low that it does not make a profit.
It follows that if you have a monopoly, you are probably very profitable.
Doctor Nash
Edited by wisenash on 8/21/2006 at 3:18 PM
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8/21/2006
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