Answer:
If you do not have competition, you can set any price that you want to what you sell. If the thing that you sell is absolutely necessary for the people and you're the one with a supply of that product, you can set any price that you want and people will still have to buy from you.
Step-by-step explanation:
In economics, a monopoly refers to a particular situation of imperfect competition, where a single company owns the market for a particular product or service and is thus able to influence the price of the commodity. Monopolies may arise due to government regulation, coercive monopoly.