Answer:
Increase price and reduce output.
Explanation:
A monopoly refers to when a company and its product offerings dominate one sector or industry.
Monopolies can be considered an extreme result of free-market capitalism and are often used to describe an entity that has total or near-total control of a market.
Natural monopolies can exist when there are high barriers to entry; a company has a patent on their products, or is allowed by governments to provide essential services.
