Anti - combines, or anti – trust, laws try to OA. regulate monopolies. OB. establish Crown corporations. C. prevent monopoly behaviour. D. establish fair trade practices. E. support prices.
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- Intellectual property laws are intended to promote innovation, but some economists, such as Milton Friedman, have argued that such laws are not desirable. In the United States, there is no intellectual property protection for food recipes or for fashion designs. Considering the state of these two industries, and hearing in mind the discussion of the inefficiency of monopolies, can you think of any reasons why intellectual property laws might hinder innovation in some cases?For many years, the Justice Department has tried to break up large firms like IBM, Microsoft, and most recently Google, on the grounds that their large market share made them essentially monopolies. In a global market, where U.S. films compete with firms from other countries, would this policy make the same sense as it might in a purely domestic context?How does the quantity produced and price charged by a monopolist compare to that of a perfectly competitive film?
- Pls help with below homework. Which barriers to entry give rise to what economists would call 'natural monopolies'? Check all that apply. A) Legal barriers to entry B )Extreme economies of scale C) Extreme network effects D) Monopolized resourcesSuppose that your state is considering a law that would force all monopolies to charge no more than their average total costs (ATC) of production. Which of the following statements correctly explains to your legislator the pros and cons of this approach? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. check all that apply Pro: this will increase the profit earned by the monopolist. Con: it is very hard to accurately determine what ATC truly is. Con: the monopolist will have an incentive to overstate costs. Pro: the monopolist will have an incentive to lower costs. Pro: this will reduce deadweight loss by increasing production quantity. Con: consumer surplus is reduced as producers will increase production and increase price.d. Find the deadweight loss due to monopolies in parts b. and c.?
- Market Structure a. In the short run, if a perfectly competitive firm produced at the quantity of productive efficiency, would it generate the highest profit level possible? Why or why not? b. Draw a graph to represent a natural monopoly and describe the circumstances that would permit natural monopoly to exist. Would it be wise for government to break up natural monopolies? Give some examples of natural monopoliesHow many real industries can you name that are oli-gopolies? How many operate under monopolistic com-petition? Perfect competition? Which of these is most difficult to find in reality? Why?The Competition Commission of Mauritius has been dealing with a number of cases of allegedexploitative monopoly behavior by firms in Mauritius. On the basis of relevant cases, analyse the viewthat although monopolies can be good, yet governments need to regulate them as they can often beevilish and they can affect the interest of consumers.
- e) Describe how monopoly is different from perfect competition in terms of characteristics,optimal conditions, and market and firm conditions.U.S. antitrust laws are designed to prohibit monopolization and encourage competition. Why, then, does the government erect barriers to entry and create monopoly power by granting firms patents?a. The perfectly competitive firm exhibits resource allocative efficiency (P = MC), but the single-price monopolist does not. What is the reason for this difference?b. Explain three reasons why monopolies arise. c. Why is the marginal revenue of a perfectly competitive firm equal to the market price? d. Would a perfectly competitive firm produce if price were less than theminimum level of average variable cost? Why?