Why would the U.S government seek to limit the development of business monopolies?

The US government limits the development of monopolies due to the disadvantages of the customers and the economy at large. The following are disadvantages of a monopoly.

Customers are exploited as monopolies charge high prices on their products. Unlike in competitive markets, customers do not have alternatives and end up paying high prices. Lack of competition leaves customers with the option of buying low quality or outdated products.

Monopolies reduce consumer surplus as well as economic welfare in the economy. Consumers pay high prices, and others opt not to buy since they cannot afford it. Monopoly prices are higher than its marginal costs resulting in allocative inefficiency.

Monopolies may gain more political power, and this may reduce the democratic space in the country. At times these monopolies influence society, and it isn't easy to hold them accountable. Monopolies in information technology determine how the information will be disseminated. People may end up getting false news with little government intervention.

Suppliers of monopolies may suffer from lower prices for their products. Monopolies dictate the prices they will pay for any supplies as they may be the only consumer.

Monopolies lack incentives to be efficient. Lack of competition means that they can earn net income without much improvement in production. They always set a price higher than the marginal cost to earn more profits.