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Hey, that monopoly you have is great for the economy right now.
Yep! I know, that's why I bought out all my competitors businesses.
Aren't there multiple types of monopolies? Could you explain?
Yeah, there's two types. There's vertical and horizontal ones.
First, horizontal monopolies. Like what I have, horizontal monopolies buy out all of the businesses in the same industry.
And what about vertical monopolies?
Vertical monopolies are formed when a business buys out all of the means of production, which can help maximize profit.
Oh, so you'll have to break up yours eventually?
However, the government will soon realize that monopolies end up being bad for the economy in the long run.
Ok! I get it now. Thank you for explaining.
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