Why are Monopolies Considered to be Detrimental to Consumers? Monopolies are considered detrimental to consumers because they can lead to higher prices, reduced product quality, and fewer choices. With no competition to incentivize innovation or cost control, monopolistic companies may underinvest in product improvement while charging higher prices. This...
How does the current energy crisis impact fibre internet in South Africa? The current energy crisis in South Africa is impacting fiber internet primarily through power outages that affect the equipment needed to operate the network. These outages can lead to internet downtime, especially when they exceed the duration...
Examples of perfect markets in South Africa: In economic theory, a perfect market or perfectly competitive market is one where there are many buyers and sellers, all products are identical, and no single buyer or seller can influence the price. It’s pretty tough to find markets that completely fit...