You would have paid more, but didn't, and so you got some benefit. A monopoly lowers your consumer surplus because it has market power that determines how close the actual price gets to the ...

A simple example is pricing power. If a business is a private monopoly then it will use its market power to extract maximum profit from consumers. It will meet consumer preferences, but at a price.

Impact on consumers: Google’s monopoly affects users in several ways: Reduced choice in search engines and related services. Potential for higher advertising costs, which can be passed on to ...

the question before policymakers is how to regulate these Internet firms from abusing their monopoly power while at the same time encouraging the positive externalities and consumer surplus they ...