Please give an example of a government-created monopoly. Is creating a monopoly necessarily bad public policy? Explain in detail.

Your explanations should consider the pros and cons of monopoly in the market and what type of impacts this government decision may have on consumers and producers.

You are expected to do some reading before posting to this forum about imperfect competition and monopoly in particular.

Please do not answer based on your guess, your answers should be based on research/info and related economic concepts.

Reference: R. Glenn Hubbard and Anthony Patrick O'Brien, Economics, 8th Edition