Is Monopolization Good Or Bad?

Everyone likes to have the best and no one likes to have to pick from too many things, so why wouldn't monopolization be a good thing? Having one company buy out a competing company is a bad idea, because the company that bought it wouldn't have anything to compete against anymore. The bought out company could have made a fortune, but that doesn't mean that this is a good thing for the people. If the companies aren't competing then technology might not improve. If eventually only one company rules all then they have the right to adjust the prices to whatever they see fit. So Monopolization really isn't the way to go.