Which of the following describes what happens when one or two companies control a market?

The competitive products will be fairly priced, and availability increases for the product.

The availability of the products increases along with the price, even if demand is low.

The companies can compete for market share and flood the market with their respective products.

The companies can have a monopoly on the market and raise prices without fear of losing demand.

Question

24phillips 24phillips

02-11-2020
Geography

contestada

Which of the following describes what happens when one or two companies control a market?

The competitive products will be fairly priced, and availability increases for the product.

The availability of the products increases along with the price, even if demand is low.

The companies can compete for market share and flood the market with their respective products.

The companies can have a monopoly on the market and raise prices without fear of losing demand.

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quasarJose quasarJose · Answer 1 · 2020-11-02T18:00:44+01:00

Answer:

The companies can have a monopoly on the market and raise prices without fear of losing demand.

Explanation:

When one or two companies control a market, they can have a monopoly on the market and raise prices without the fear of losing demand.

Monopoly occurs when a single seller controls the supply in a market. In such a situation, only this seller controls the production of the goods and services. So, they are at liberty to set the price to whatever they intend.

This sort of market operation leads to creation of a monopoly. The two suppliers can agree to regulate production and then set prices to that which help them maximize profit.