The Bad In Monopolies In Mayer Book

The Good in Monopolies has several forms. One of them being Natural Monopolies, as factory or Business grow larger, it cost for production or service lower for the consumer. The other form of positive monopolies is in technological monopoly. With Technology monopoly, there is patent protection. With it patent protection a company who has invested millions of dollars in a product or procedure can earn economic profits. This type of monopoly allows innovation, invention, and research and development (Mayer Page 83) protection and allow a business to compete against other competitors without the fear of another business coming in and stealing their ideas.

The Bad in Monopolies in Mayer book, Mayer provide examples how government has monopoly

Not only is it bad for other young companies trying to enter the business due to high entry barrier, but it ugly for consumer due to monopoly business are able to charge whatever price they want for their product. An example would be a diamond company that owns ninety five percent of all diamonds mines in the world and owning a majority of the entire diamond store in your country. With that diamond company owning a majority of the business from top to bottom, they are the only people you can buy diamonds from. Once you know you’re at the mercy of that company product, the company can charge one hundred percent times the amount of that product for what it made

Yet it not really good for consumer variety. The good part of having few internet giants can be related to last week discussion on the law of demand. If more people demand for apple or android services then the price of using their service will go down. If you have multiple services, but you wish to continue using apple or android because you are already either used to or already have so many important documents saved with them, the price of their service will go up, cause now there is few demand for it. A bad view in them can be variety. In the states I had an android phone, living in Japan I have apple phone. After using both phones for multiple years, both have their ups and downs. The android phone crashes too much on me, but I enjoy the ability to do whatever I want on it. It acted like a Laptop. The IPhone is very reliable and has never crashed, but I don’t have the freedom like I did when I had my android phone. I wished there were other types of phone business so I didn’t have to decide between these two. I wish I could have a phone that met in the middle. But in this internet and phone monopolies I don’t have that option. I’m stuck at the mercy of android or