Asked by Jarrin Goecke on Jun 28, 2024
Verified
Because a monopoly market lacks the benefits of competition,many governments regulate monopolies.
Monopoly Market
A market structure characterized by a single seller dominating the entire market, with no close substitutes for the product or service offered.
- Recognize the contribution and impact of private corporations and government action within the economy.
Verified Answer
BP
Briannia PearsonJun 30, 2024
Final Answer :
True
Explanation :
Governments regulate monopolies to prevent abuse of market power, ensure fair pricing, and protect consumer interests, as monopolies can lead to higher prices and reduced quality due to lack of competition.
Learning Objectives
- Recognize the contribution and impact of private corporations and government action within the economy.