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Prettigirlcrazi95

Skilled workers in such an industry have to work for the trust/monopoly or not work in their skill set. This gives the employer much leverage in pay/benefit negotiations.

Since consumers have no choice but to buy from the trust/monopoly they have to pay (usually) higher prices than they would if there were competition between businesses owned by different people.

Without competition there might be little incentive to improve product quality and to develop new products.

Parrain

A monopoly in a certain industry might be bad if the following happen:

  • Customers are overcharged.
  • Workers are underpaid.

What is a monopoly?

  • This refers to a situation where a certain company has so much influenced in an industry that they basically control it.

When a monopoly happens, they could overcharge customers because they know that customers would have no choice but to buy seeing as there are no alternatives.

A monopoly might also underpay workers in the industry who have industry specific skills because they would have no where else to go and therefore no choice but to work.

Find out more about monopolies at https://brainly.com/question/13113415.

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