Monopoly: Maximizing Profits

There is no question that a monopoly can set prices in order to maximize profits, as well as impose costs upon society by such price setting. One example of this is with the recent Canadian bank mergers. There exists a great deal of contrasting opinions with regard to the issue of Canadian bank mergers; however, for the most part, it appears as though Canadian officials and private citizens alike are not favoring the marriages between and among
the big banks. Cited for a number of reasons including lost jobs and higher costs for various transactions, the proposed merging of five of Canada'…