BASIC ISSUES IN ANTITRUST CONDUCT AND STRUCTURE

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BASIC ISSUES IN ANTITRUST CONDUCT AND STRUCTURE While the basic antitrust statutes are straightforward, it is not easy in practice to decide how to apply them to specific situations of market structure or conduct. Actual law has evolved through an interaction of economic theory and case law. Get Any Economics Assignment Solved for US$ 55

Federal Trade Commission

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Federal Trade Commission In 1914 the Federal Trade Commission (FTC) was established to prohibit “unfair methods of competition and to warn against noncompetitive mergers. In 1938, the Fl’C was also empowered to ban false and deceptive advertising, To enforce its powers. the FTC can investigate, hold hearings, and issue cease and desist orders. Get Any Economics Assignment Solved for US$ 55

Sherman Act (1890)

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Sherman Act (1890) Monopolies had long been illegal under the common law, based on custom and past judicial decisions. But the body of laws proved ineffective against the mergers, cartels, and trusts that swept through the American economy in the 188Os. In 1890, populist-sentiments led to passage of the Sherman Act, which is the cornerstone of American antitrust law. Section 1 […]

Review of Imperfect Competition

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Review of Imperfect Competition Chapters 9 and 10 discussed the way that imperfect competitors set their prices and quantities. Let’s begin reviewing the manor elements of the economic theory that relate to government anti monopoly policies  Imperfect competitors are inefficient because they set prices above marginal cost, The consumers in the monopolistic or oligopolistic industry are consuming less of its goods than […]

Deregulation: An Unfinished Story

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Deregulation: An Unfinished Story Deciding how much government should interfere in individual markets continues to be debated vigorously. In 1996. the United States partially deregulated its communications industry, allowing long-distance and local telephone companies to compete with one another. In 1999, Congress removed tight controls on the financial industry by repealing the Glass- Steagall Act. For the first time since the Great […]

Pioneering Deregulation in the Airline Industry

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Pioneering Deregulation in the Airline Industry Since 1975, the federal government has partially or completely deregulated many industries, including petroleum; airlines, trucking. railroad. stockbroking, long-distance telephone service. banking. communications, the financial sector, and natural gas. Each of these industries has structural characteristics that are favorable ,to competition because their markets are large relative to the efficient size of individual firms. The airline industry provides a […]

Decline of Economic Regulation

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Decline of Economic Regulation For the last two decades. many economists have argued that most economic regulation was actually creating monopoly power rather than curbing it. This idea is partially based on the interest-group view of regulation analyzed above. In addition. observers noted that economic regulation had spread far beyond the local the mid-1970s, regulators were issuing their orders to railroads […]

THE COSTS OF REGULATION

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THE COSTS OF REGULATION Economists have studied the impact of regulation to weigh its costs and benefits. The results of the latest comprehensive survey are shown in Table 17-l. The effects of regulation include both efficiency gains or losses (such as those that come when inefficiently high levels of pollution and income redistribution (as occurs when high trucking prices redistribute income from […]

Ideally Regulated Pricing

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Ideally Regulated Pricing If P = MC is such a good thing. why shouldn’t the regulators force the monopolist to lower price until it equals marginal cost at the intersection point of the DD and MC curves (at I)? . Actually. marginal-cost pricing where P = MC is the ideal target for economic efficiency. But it presents a serious practical obstacle If […]