What Are The Advantages And Disadvantages Of Monopoly Market?

Advantages of monopoly markets are as under:
There is no risk of over production. The owner have edge that he knew his product will be sold because people prefer his product then other. All the capital is invested in Research & Development. Reduction in price is advantage to the monopoly market owner because by lowering prices, demand will get high and efficiently used the organization resources.
 
Disadvantages of monopoly market are:
Increase in prices of product any time because the organization know that there is no competitor, it leads to restriction of consumer choice. Exploitation of labour and no competitor in market leads to inefficiency.

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