Monopolies can lead to higher prices from "summary" of The Antitrust Paradox by Robert Bork
The idea that monopolies can lead to higher prices is a fundamental concept in antitrust law. When a single company has control over an entire market, it can restrict competition and raise prices without fear of losing customers to competitors. This lack of competition gives monopolies the power to set prices at levels that are higher than they would be in a competitive market. In a competitive market, companies are forced to keep prices low in order to attract customers away from their rivals. However, when a monopoly exists, there is no need for the company to lower prices in order to compete. This leads to higher prices for consumers, who have no choice but to pay the monopolist's inflated prices. The problem of high prices in...
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