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Monopoly
A monopoly price is the highest price that buyers will accept. Since they face no competition, monopolies naturally raise prices to this level.
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Monopoly Price Term Timeline in The Wealth of Nations
The timeline below shows where the term Monopoly Price appears in The Wealth of Nations. The colored dots and icons indicate which themes are associated with that appearance.
Book 1, Chapter 7
...raise market prices well above natural prices “by keeping the market constantly under-stocked.” A commodity’s monopoly price is the highest that buyers will ever pay, and its natural price is the lowest...
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Book 1, Chapter 11
...rent prices aren’t proportional to improvements they make to this land, so rent is a monopoly price . In other words, rent is based primarily on “what the farmer can afford to...
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