Whether being the only seller of the product, an innovative firm is violating the US anti-trust laws.
Concept Introduction
US Anti-trust Laws: Also known as the competition laws, the US anti-trust laws protect the consumers from unfair business practices and ensure fair competition in the open-market economy.
The objective of the anti-trust law is to protect the process of competition for the benefit of consumers, making sure that there are strong incentives for businesses to operate efficiently, keeping the prices down, and keeping the quality up. The three core anti-trust laws of the USA are The Sherman Act, The Federal Trade Commission Act, and the Clayton Act.
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