Monopoly: Maximizing Profits

There is no question that a monopoly can set prices in order to maximize profits, as well as impose costs upon society by such price setting. One example of this is with the recent Canadian bank mergers. There exists a great deal of contrasting opinions with regard to the issue of Canadian bank mergers; however, for the most part, it appears as though Canadian officials and private citizens alike are not favoring the marriages between …

…and rural constituencies. It is in these specific areas where many of the branch closings will occur, leaving consumers to address their banking needs by way of automatic and/or electronic facilities, which are expected to incur the user significantly higher fees than what already exists (Weinberg, 1998). BIBLIOGRAPHY: Weinberg, Paul (1998, April). Opposition grows to megabanks in Canada. Inter Press Service English News Wire, pp. PG. *PG denotes page number taken from an online electronic source.