Why do monopolies and oligopolies benefit producers over consumers? A. Companies control price through demand. B. Competition is driven by factors other than price. C. Demand influences production more when competition is less. D. Few producers can generally control prices.
Business · High School · Tue Nov 03 2020
Answered on
Here, option (d) is correct.
Monopoly is a type of competition where only
one manufacturer is entitled to sell a particular
product. Oligopolies permits few producers
but not to the extent of having too many to be
key players in selling the same item.It's because companies can control price through demand only a few producers can generally control prices. The demand influences production more when there's not a lot of competition. These kinds of competitition benefit the produces over consumers.