Why were monopolies bad for the economy and how did the rich take advantage?

Monopolies are bad for the economy because lack of competition allows a few to set prices, stagnate competition.

Explanation:

How did the rich take advantage:

The rich had ready capital to either buy out smaller competitors or drive them out with undercut prices until the competitor failed, then prices to consumer went back up even higher.

It happened in the early industrial revolution:  Rockefeller/Standard Oil,

Carnegie and JP Morgan= Steel industry

Still going on today, especially in the tech arena.

Able to manipulate what we buy, the way we think, etc.

We need to be responsible, situationally aware consumers.

louverture's prominent role in the haitian success over colonialism and slavery had earned him the admiration of friends and detractors alike.

explanation:

toussaint louverture began his military career as a leader of the 1791 slave rebellion in saint-domingue; he was by then a free man and a jacobin.

ayatollah khomeini can best be described as the leader who declared iran to be an islamic republic.