What are three ways consumers can benefit from monopolies?

Often, people
only focus on the negative impacts of monopolies. One of the most basic benefits of a monopoly
is that companies with monopolies can use economies of scale. They can buy, produce, and
distribute in bulk. That can result in both cheaper prices and faster distribution of goods.
Both of these benefit consumers directly. Monopolies are also stable, and that benefits
consumers. You might like them or dislike them, but they are known quantities. That means a kind
of continuity and shared reference. Microsoft isn't a complete monopoly, but it is close enough
to one that businesses can assume new employees know Microsoft programs like Word. That benefits
both businesses (less training is needed, and it is easier to evaluate applicants) and
consumers. Finally, monopolies can be more efficient.

Monopolies also tend to
have more money to dedicate to research. That does not benefit consumers directly, but it does
benefit them a great deal indirectly. More research means product improvements (at least
eventually), and that benefits consumers.

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