The argument against monopoly is that the restriction on output, an raising price, means 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. And so the cost of monopoly is foregone alternatives for consumers that they would have purchased,. So again, the foregone options that consumers would have.
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.