Big monopolies are popping up everywhere due to a lack of government regulation on the companies. Merging companies has been an idea that is floating around now that may endanger the economy due to prices not being set in stone for customers. If the prices are too high, customers won't want to buy the products. If they are too low, the cost of transporting the items will be high, causing the company to lose money rather than gain profit, making it a lose-lose situation.
Big monopolies suck up so much money that they damage the economy and put customers at a disadvantage. Miller and Coors, two big beer companies, have merged. In the stores, their beer would be referred to as MillerCoors which would make it a monopoly. They could raise their prices and customers would not buy another brand because there would not be another brand. Before the merge, customers had two more types of beers to choose from, giving them more freedom to choose and they were able to walk out of the store satisfied with a six-pack of beers in hand. Now, since the two companies have merged and become one big company, if customers liked one beer over the other, they have no choice but to buy the MillerCoors beer because that is the only beer close to what they are used to buying, completely ruling out the other types of beer in the store.
I think monopolies can cause customers problems because, with the MillerCoors monopoly, they have nowhere else to buy beer and they are forced to spend crazy amounts of money for something they could have bought cheaper at another company or Miller and Coors separately. Customers are put in a position where they have to probably spend more money than they have on something that used to cost a lot less, but now that the company has transformed into a big powerful monopoly, their prices have to be higher so that they are able to afford to actually produce their product and put it in the stores for customers to have the chance to purchase.
Prices that are too high turn customers off, making them not want to buy the product at all. The customer is forced to think, "Do I want expensive beer that would have been cheaper somewhere else, or no beer at all?" if Miller or Coors happened to be their favorite beer separately. The customer would buy the beer because they probably taste the same, right, if they merged?
Monopolies will be detrimental to the economy because they will run other smaller companies out of business, making customers buy their product, but the product will be outrageously expensive, turning customers off and hurting the company because they are not making the profit needed to pay for the cost of transportation and for the production of the product. Companies would be losing more money than what they are making and the economy will suffer because of it.
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