The argument against monopoly is that there are many consumers who would be willing to pay more than it costs to make the product. In a ative market, you have more reason to innovate, improve quality and produce more things. The cost of monopoly is foregone alternatives for consumers that they would have purchased,. And so again, the foregone options that consumers would have been able to buy.
Are tech giants such as Google, Amazon, or Facebook dangerous? Do they have too much power? Dive into the murky waters of antitrust as Michael Munger of Duke University talks with EconTalk host Russ Roberts about monopoly, antitrust policy, and competition in the 21st century.