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Submitted: 1190 days and 10 hours ago.

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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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Expert:	Professor
Pos. Feedback:	100.0 %
Answered:	8/21/2006

Professor

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