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    Price monopoly and consumers

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    It is sometimes said that a manager of a monopoly can charge any price and customers will still have to buy the product. Do you agree or disagree? Why?

    © BrainMass Inc. brainmass.com May 20, 2020, 9:28 pm ad1c9bdddf
    https://brainmass.com/economics/personal-finance-savings/price-monopoly-consumers-458568

    Solution Preview

    I disagree. First, because a customer can always do without the product. For example, if we go back to the time when there were only landlines (before cell phones), if the price had become really high, people would have just not gotten a phone ...

    Solution Summary

    This solution looks at if it is true (according to the Expert) that a manager of a monopoly can charge any price and still have customers purchase their product.

    $2.19

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