How did the hatters guild act like a monopoly?

The Hatters Guild acted like a monopoly by controlling the production and sale of hats in their region, restricting competition and maintaining high prices. They established strict regulations on membership, which limited who could legally produce hats, thereby ensuring that only guild members could access key resources and markets. This control allowed the guild to dictate quality standards and prices, effectively stifling innovation and competition from non-guild hatters. By monopolizing the trade, they could maintain economic power and influence over the hat-making industry.