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changes to monopoly market (benefits to firms (more monply power, (acsess…
changes to monopoly market
potives for consumers
more compotive market
fims whatn to benefit the consumer in oreer to sell more prducts and to gain market shere
better deals for consumers
cheeper prducsa and new techneeks of priuction found
negatives for consumers
monopoly power
consumers have no choice but to pay the price of the firm with the moat moply power
lees choice so infiyer products bought
no new invocation made
onsumer have no consumer power as many idams from the super market are asetal and not luctry.
Giffen goods
only one firm more miles so no choise.
benefits to firms
more monply power,
become a price setter
beceom a biggenoug byer that peale exsat lower prices if u by there portuct to sell on
acsess to ecomyies of skale
diminishing retunes that resul in making poduct chepper but selling the msake amount there for highter portits
more ecoption
new portuction techneeks funded and found
negatives to firms
mor ecopmotion
have to worck harder in order to gain porif
have to invest in more new teckligy that is expoceive
lower pofits
smaller fimes get even more egnoured