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Monopoly is always against public interest - discuss
The first 200 words of this essay...
In the past, monopolists were very common and they dominated the market. But the figures of monopolies are declining dramatically these years. It was argued that monopoly was always against the public interest so the government tried to reduce it by legislations. It is possible for firms in a market to gain the profits so that they will not be forced out of business or, they have enough profits to survive and even to enlarge the firms. But it seems unrealisable for them to maximise the profits as well as benefit public interest. Which market structure best serves to public interest will be gone through the entire essay. First of all, monopoly will be appropriately defined and featured and in this part, John Sloman and John Schumpeter will be referred to. And then Equilibrium price and output decision will be discussed and analysed by means of using graphs. Secondly, the potential arguments against and in favour of monopoly will be fully explained in terms of comparing monopoly with perfect competition, along with some proves of those situations. Finally, by balancing the advantages and disadvantages of monopoly, the topic discussed will be come to the conclusion.
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