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I understand that an airline that monopolizes a city can charge any value to the ticket. This means that if there are multiple airlines in that city the value of the ticket should decrease in some way.
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By value do you mean price? Also there are some economic problems with your statement which I'll write about on my PC after I get back from skiing.
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Airlines should be able to set their own ticket prices. If it is too low, they will not make a profit. If it is too high, then there will be no pax and no profit. If another airline shows up, airlines will have to lower their prices to compete.
A picture is worth 1000 words. FH is worth 7451 [u]lines[/u]!
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Also remember even an airline with a monopoly cannot charge £X*99999999 for its tickets. People have other non-aviation forms of travel and people will also reach there're speniding limit and choose not to travel at allis the prices are too high.