Monopolies affect the price of goods because monopolies lower and raise their prices at will.
How is price affected by monopolies?
Because they are either the only suppliers in the market, or the major ones, monopolies have significant control over pricing.
As a result, they can choose to either raise prices or reduce them at will without worrying about backlash.
Find out more on monopolies at https://brainly.com/question/13113415.
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