Still doesn't explain what intrinsic value any product has and when it suddenly becomes price gauging as opposed to priced accordingly.
RE: If I Was Still On Hive
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If I Was Still On Hive
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why are monopolies bad ?
I've already answered that.
you alluded to "price-gouging" without saying "price-gouging"
It's not price gauging, it could lead to that, it could simply be "acceptable" prices it still would undermine free market. Monopoly isn't known for price gauging, it's known for undercutting the market and cornering it by undecuting it, you can't have a monopoly by price gauging. I asked you to define or explain by what virtue a product has a certain price, which is what you claimed makes a scam if it were otherwise.
the point of monopoly is to control pricing
that's the only point
sure, you may be able to expand your share by under-cutting on price, for some period of time
but once you run off your competitors
you are then free to raise your prices without worry that customers will flee to a competitor
and you can leverage your dominant position to buy-up any new up-starts and or erect complicated legal barriers to block them from your private playground
You can still earn many times more by not price gauging one penny by virtue of no middle men. Monopolies effectively tax the most determined and most business savy individuals, and not some clowns or idiots trying to make cents by rising prices above market price, they tax those individuals because they reduce the redundancy proof of numerous suppliers born from competition, not collusion, which ultimately can drive them to increase the prices, or simply maintain them despite their overhead being significantly less than in a competitive environment.
good point
increasing profits is the primary motive
No. It's control. If Amazon who has a monopoly on publishing books decides what books get published they don't do it "for profit".