Used when discussing situations where one company has excessive influence over the market. Their monopolistic control sets prices for the entire industry.
Pro Tip 2/3
Less competition
Highlights the negative effect on competition due to one entity’s dominance. Monopolistic businesses can stifle innovation by reducing competition.
Pro Tip 3/3
Not just size
Monopolistic doesn't always mean the business is large; it's about market influence. The company's monopolistic tactics aren't about size but control.