Comment by specialist
2 years ago
> The consumers get lower prices though, which is ultimately better and more efficient.
What are some examples of free enterprise (private) monopolies benefitting consumers?
2 years ago
> The consumers get lower prices though, which is ultimately better and more efficient.
What are some examples of free enterprise (private) monopolies benefitting consumers?
""" Through horizontal integration in the refining industry—that is, the purchasing and opening of more oil drills, transport networks, and oil refiners—and, eventually, vertical integration (acquisition of fuel pumping companies, individual gas stations, and petroleum distribution networks), Standard Oil controlled every part of the oil business. This allowed the company to use aggressive pricing to push out the competition. """ https://stacker.com/business-economy/15-companies-us-governm...
Standard Oil, the classic example, was destroyed for operating too efficiently.
How did customers benefit?
> This allowed the company to use aggressive pricing to push out the competition.
The consumers got the lowest prices.
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