Question

NEED HELP ASAP!!!!! PLEASE!!!

1. Considering your previous knowledge of monopolies and the nature of competition; how do monopolies hinder competition and why is it important for governments to take steps to limit this business practice? Please provide at least two examples.
Textbook pages: (151–154)

2. Considering your previous knowledge of the science behind the concepts of supply and demand; please explain how the concepts are interconnected and how one affects the other to achieve market equilibrium.
Textbook pages: (125-132)

Answer 1

These barriers include: economies of scale that lead to natural monopoly; control of a physical resource; legal restrictions on competition; patent, trademark and copyright protection; and practices to intimidate the competition like predatory pricing.

Step-by-step explanation: