Vertical integation and scale are not inherently monopolistic. Some monopolies formed because they exploited these advantages, but there are competative industries today where several vertically integrated companies compete.
Monopolies in econ 101 are not called inefficient because they extract profit. They’re inefficient because they don’t respond to market forces. Since they control all supply, they can disregard demand.
Vertical integation and scale are not inherently monopolistic. Some monopolies formed because they exploited these advantages, but there are competative industries today where several vertically integrated companies compete.
Monopolies in econ 101 are not called inefficient because they extract profit. They’re inefficient because they don’t respond to market forces. Since they control all supply, they can disregard demand.