What are three ways consumers can benefit from monopolies?

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gbeatty eNotes educator| Certified Educator

Often, people only focus on the negative impacts of monopolies. One of the most basic benefits of a monopoly is that companies with monopolies can use economies of scale. They can buy, produce, and distribute in bulk. That can result in both cheaper prices and faster distribution of goods. Both of these benefit consumers directly. Monopolies are also stable, and that benefits consumers. You might like them or dislike them, but they are known quantities. That means a kind of continuity and shared reference. Microsoft isn't a complete monopoly, but it is close enough to one that businesses can assume new employees know Microsoft programs like Word. That benefits both businesses (less training is needed, and it is easier to evaluate applicants) and consumers. Finally, monopolies can be more efficient.

Monopolies also tend to have more money to dedicate to research. That does not benefit consumers directly, but it does benefit them a great deal indirectly. More research means product improvements (at least eventually), and that benefits consumers.