Question.3092 - Question: Antitrust Practices and Market Power Research authoritative articles using the news and the DeVry Online Library (http://library.devry.edu) for a recent case of antitrust investigation. You are free to choose a case from any industry and any part of the world. Based on the case you have selected, answer the following questions. 1. Why was/were the firm(s) investigated for antitrust behavior? 2. Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investigated. 3. Given your research and findings, are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position. 4. Provide at least one example of a case where having a monopoly or oligopoly may actually benefit the society. Based on your findings to the questions listed above, write a report with a minimum of 300 words in essay format in APA style (use the APA template in Doc Sharing), using correct economic terms covered in the discussions. If you ONLY write 300 words, you probably won’t be able to fully answer the questions. Key concepts to include in your paper include the following. ? Monopoly Market Structure ? Oligopoly Market Structure ? Barriers to Entry Into the Market ? Natural Monopoly ? Government Monopoly ? Downward Sloping Demand Curve ? Economies of Scale ? Price Fixing ? Collusion ? Monopoly Pricing ? Price Maker ? Market Power ? Economic Profits ? Imperfect Competition ? Rent-Seeking Behavior ? X-Inefficiency ? Deadweight Loss to Society ? Marginal Cost ? Marginal Revenue ? Antitrust You must use at minimum at least one article from the DeVry Online Library. Note: Although your textbook is a good source of knowledge, it is NOT an article and cannot be the only source for the assignment. Cite all your references in APA format. You can use the Citations & Bibliography function of Microsoft Word, which is found under the References tab. Submit your assignment to the Dropbox located on the silver tab at the top of this page.
Answer Below:
Antitrust xxxxxxxxx and xxxxxxxxxxxxxxxxxxxx Practices xxx Market xxxxx Market xxxxx is xxx key xxx antitrust xxxxxxxxxxx to xxxxx in xx save xxxxx consumers xxxxxxxx The xxxx amp xxxx market xxxxx amp xxxx refers xx the xxxxxxx of x firm xx a xxxxx of xxxxx acting xxxxxxx to xxxxx price xxxxx the xxxxxxxxxxx level xxxxxxx losing xx many xxxxx so xxxxxxx that xxx price xxxxxxxx is xxxxxxxxxxxx and xxxx be xxxxxxxxx Such xxxxxxxxx primarily xxxxxx in x monopoly xx oligopoly xxxxxx structure xxxxxx structure xx defined xx the xxxxxxxxxxxxxx and xxxxx characteristics xx a xxxxxx The xxxx important xxxxxxxx of xxxxxx structure xxx number xx firms xxxxxx share xx the xxxxxxx firms xxxxxx of xxxxx degree xx which xxx industry xx vertically xxxxxxxxxx extent xx product xxxxxxxxxxxxxxx structure xx buyers xx the xxxxxxxx There xxx four xxxxx market xxxxxxxxxx Monopoly xxxxxxxxx perfect xxxxxxxxxxx and xxxxxxxxxxxx competition xxxxxxxx is x form xx market xxxxxxxxxxxx for x commodity xxxxxxx services xx which xxxxx is xxxx one xxxxxx seller xx the xxxxxxxxx product xxxxxxxx to xxxxx there xx no xxxxx substitute xxx degree xx competition xx nil xxxxxxx due xx strong xxxxxxxx to xxxxx and xxx seller xxxxxxxx the xxxxxx to xxxxxxxxx A xxxxxxxxxx is x price xxxxx as xx holds x large xxxxxx of xxxxx over xxx price xx charges xxx concept xx market xxxxx is xxxxxxxxxxx in xxx figure xxxxx where x monopolist xx shown xxxxxxx price xx the xxxxx on xxx downward xxxxxxx demand xxxxx where xxxxxxxx cost xxxxxx marginal xxxxxxx rather xxxx as xxxxx competition xxxxxx the xxxxxx price xx given xx the xxxxxxxxxxxxxxxxx monopoly xxxxx Pm xxxxx exceeds xxxxxxxx cost x amp xx the xxxxxxxx distance xxxxxxx the xxxxxx and xxxxxxxx cost xxxxxx at xxx monopolist xxx s xxxxxx Qm xxxx is xx Pm- x amp xxx lack xx competition xx imperfect xxxxxxxxxxx may xxxx a xxxxxxxxxx less xxxxxxxxx to xxxxxx in xxx ideas xxxx if xxx monopolist xxxxxxxx from xxxxxxxxx of xxxxx they xxxx little xxxxxxxxx to xxxxxxx their xxxxx and xxx X xxx inefficiencies xxxx mean xxxx there xxxx be xx real xxxx savings xxxxxxxx to x competitive xxxxxx William x Landes xxx Richard x Posner xxxxxx Power xx Antitrust xxxxx Retrieved xxxx http xxxxxxxxx direito-rio xxx br xxxx images x Landes x Posner x Market xxxxx pdfAntitrust xxxxxxxxx and xxxxxx Power xx the xxxxxxxx is xxxxx over xx a xxxxxxxxxx the xxxxxxxxxxxxxxxxx point xxxxxxxx cost xxxxxxxx Revenue xx at xxxxx P x and xxxxxx Q x The xxxxxxxxxx is xxxx to xxxxxx a xxxxxx price xxxxxxxx total xxxxxx and xxxxxxx reduce xxxxxxx because xxx rise xx price xx P x reduces xxxxxxxx surplus xxxxxxxx market xxxx witnesses xxxx seeking xxxxxxxxx Rent xxxxxxx is xxxxxxx defined xx the xxxxxxxxx activity xx persons xx groups xxxxxxx monopoly xxxxxx or xxxxxxxxxx granted xx the xxxxxxxxxx Such xxxxxxxxxx include xxxxxxxxx tax xxxxxx price xxxxxxxx tariffs xxxxxx quotas xxx other xxxxxxxxxxxx Usually xxxxx activities xxx said xx pose xxx types xx social xxxxx First xxx privileges xxxxxxxxxx represent x deadweight xxxx to xxxxxxxxx Second xxx expenditure xx resources xx their xxxxxxx arguably xxxxxxxxxx a xxxxxxxxxxxx social xxxx because xx the xxxx productive xxxxxxxxxxx uses xxx such xxxxxxxxx In xxx past xxxxxxx companies xxxx been xxxxxxxxxxxx for xxxxx antitrust xxxxxxxxx on xxxxxxx of xxxxxx monopolistic xxxxxxxx For xxxxxxxx American xxxxxxx Company xxx found xxxxxxxxx the xxxxxxx Sherman xxxxxxxxx Act xx by xxxxxxx to xxxxxxxxxx practically xxx sectors xx the xxxxxxx industry xxx In xxxxx to xxxxxxx market xxxxxxxxxxx four xxxxx were xxxxxxx from xxx American xxxxxxx Company xxxxx s xxxxxx On xxx other xxxx monopolistic xxxxxxxxx has x positive xxxxxx also xx the xxxx of xxxxxxx Monopoly x natural xxxxxxxx comes xxxxx due xx economies xx scale-that xx due xx unit xxxxx that xxxx as x firm xxxxx s xxxxxxxxxx increases xxxx economies xx scale xxx extensive xxxxxxxx to xxx size xx the xxxxxx one xxxx can xxxxxxx the xxxxxxxx rsquo x whole xxxxxx at x lower xxxx cost xxxx two xx more xxxxx could xxxxxxxxx public xxxxxxxxx such xx water xxxxxxxx and xxxxxxxxxxx The xxxxxx market xxxxxxxxx which xx actively xxxxxxxxx by xxxxxxxxx authorities xx the xxxxxxxxx An xxxxxxxxx is x market xxxxxxxxx in xxxxx a xxx firms xxxxxxxx When x market xx shared xxxxxxx a xxx firms xx is xxxx to xx highly xxxxxxxxxxxx Although xxxx a xxx firms xxxxxxxx it xx possible xxxx many xxxxx firms xxx also xxxxxxx in xxx market xxx example xxxxx airlines xxxx British xxxxxxx BA xxx Air xxxxxx operate xxxxx routes xxxx only x few xxxxx competitors xxx there xxx also xxxx small xxxxxxxx catering xxx the xxxxxxxxxxxx or xxxxxxxx specialist xxxxxxxx The xxxx characteristics xx firms xxxxxxxxx in x market xxxx few xxxxx rivals xxxxxxx interdependence xxxxx the xxxxx and xxxxxxx strategical xxxxxxxxx such xx whether xx compete xxxx rivals xx collude xxxx them xxxxxxx to xxxxx or xxxxx price xx keep xxxxx constant xxxxxxx to xx the xxxxx firm xx implement x new xxxxxxxx or xxxxxxx to xxxx and xxx what xxxxxx do xx such xxxxxxx antitrust xxxxxxxxxxx primarily xxxx for xxxxxxxxx or xxxxx fixing xxxxxxxx the xxxxxxxxxxx Commission xx India xxxxxxx fine xx the xxxxxx cement xxxxxxxxx for xxxxxx together xxxx limited xxxxxxxxxx and xxxx attempted xx control xxx production xxx fixing xxxxx in xxx market xx India xxxxxxxx and xxxxxxxxx Are xxxx always xxx Mark xxxxx Is xxxxxxxx Rent xxxxxxx Compatible xxxx Wealth xxxxxxxxxxxx Retrieved xxxx lawreview xxx edu xxxxxxxx gli xxx David x Henderson xxxxxxx Monopoly xxxxxxxxx from xxx econlib xxx library xxx Monopoly xxxx lrm xxxxxxxxx Practices xxx Market xxxxx Just xxxxxxx monopoly xx bad xx a xxxxxxxxxxx economic xxxxx however xxxx not xxxx that xx is xxxxxxx And xx fact xxxxx is xxxxxxx clearer xx the xxxxxxxxx laws xxxx that xxxx lawfully xxxxxxxx monopoly xx not xxxxxxxxxx That xxxxxxx is xxxxxxxxx expressed xx courts xxxx they xxx that xxxxxxxx power xxxx results xxxx from xxxxxx or xxxxxxxxxxx ldquo xx a xxxxxxxxxxx of x superior xxxxxxx business xxxxxx or xxxxxxxx accident xxxxx is xxx objectionable xxxxxx States x Grinnell xxxx U x Good xxxxxxxxxx come xx several xxxxx Encourage xxxxxxxxxx invention xxxxxxxx and xxxxxxxxxxx in xxxxxxxxxx and xxxxxx companies xxxxxxx monopoly xxxxxxxxxx economies xx scale xx local xxxxxxxxxx utility xxxxxxxxxx monopoly- xxxxxxxxxx prices xx utilities xx theory xxx only xxx for x firm xx become x monopoly xxxxxxx government xxxxxxxxxxx is xx win xxx loyalty xx consumers xx lowering xxxxxx and xxxxxxxx a xxxx useful xxxxxxx than xxxxxxxxxxx One xx the xxxx world xxxxxxxx of x good xxxxxxxx which xxxxxx the xxxxxxx was xx Standard xxx in xxx United xxxxxx It xxx Standard xxx which xxxxxxxxxx the xxxxx of xxx as xx affordable xxx to xxxxx people xxx s xxxxx in xxx evening xxxxx was xx far xxxxxx than xxxxxxx and xxxx By xxx mid x whale-oil xxx unaffordable xx most xxxxxx and xx the xxxxxx that xx could xxxxx homes xxx an xxxxxxxxxxxxx source xx light xxxxxxx of xxx size xx the xxxx it xxx able xx undertake xxxxxxxx which xxxxxxxxx companies xxxxx never xxxxx upon xxx it xxxxxxxxxx innovation xxx invention xx the xxxxxxx developed xxxxxxxx ex- xxxxxxxx out xx its xxxxxxxxxx waste xxxxxxxxxx John x Stelzer xxxxx M xxxxxxxxx Laws x Primer xxxxxxxxx from xxxxx University xxxxxxx David x Mayer xxx Good xxx Bad xxx the xxxx Retrieved xxxx http xxx netplaces xxx economics xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx the-good-the-bad-and-the-ugly xxx Chernow xxx Titan xxx Life xx John x Rockefeller xx Retrieved xxxx http xxx h- xxx org xxxxxxx showpdf xxx id xxxxxxxxx Practices xxx Market xxxxx Other xxxxxxx references xxxxxxxx Klein xxx rdquo xxxxxxxxxxxxx rdquo xxxxxxxxxx That xxxxxxx The xxxxxxxx Oil xxxxxxxx Christopher x Leslie xxxxxxxxxx The xxxxxxxxxxx History xx Standard xxx Geoffrey x Manne xxx amp xxxxxx D xxxxxx Google xxx The xxxxxx Of xxxxxxxxx The xxxx Against xxx Case xxxxxxx GoogleMore Articles From 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