A note from Daniel

Markets become efficient through competition. Buyers compete to get the goods and services they want at the lowest possible prices. Sellers compete to sell at the highest possible prices. In a monopoly, a single company controls a market; there is no competition. Imagine a bridge that crosses a body of water, with no alternative. If you want to cross, you must use the bridge.

Daniel The Great Mental Models, Volume 4, page 139 · December 23, 2024 Save to shelf
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