Monopoly Market: Advantages (Pros) and Disadvantages (Cons)

Advantages: 1. Research and Development 2. Improve Efficiency with Economies of Scale 3. Improve Innovation 4. Continuous Development to Benefit the Society 5. International Competitiveness 6... Disadvantages: 1. High Prices 2. Diseconomies of Scale 3. No Product Alternatives for Consumers 4. Less Innovation and Product Improvement 5. Pay Low Prices to Suppliers 6...