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This field is for validation purposes and should be left unchanged. People are switching to mobile devices, such as tablets and smartphones, and Microsoft's operating system for those devices has not been popular in the market. Some companies become monopolies through vertical integration ; they control the entire supply chain, from production to retail.
Others use horizontal integration; they buy up competitors until they are the only ones left. Once competitors are neutralized and a monopoly has been established, the monopoly can raise prices as much as it wants. If a new competitor tries to enter the market, the monopoly can reduce prices as much as it needs to squeeze out the competitors. Any losses can be recouped with higher prices once competitors have been squeezed out. Congress enacted it in when monopolies were known as "trusts," or groups of companies that would work together to fix prices.
The Supreme Court later ruled that companies could work together to restrict trade without violating the Sherman Act, but they couldn't do so to an "unreasonable" extent. Some 24 years after the Sherman Act, the U. The Federal Trade Commission FTC was established by the former, while the latter specifically outlawed some practices that weren't addressed by the Sherman Act.
Sometimes a monopoly is necessary. Some, like utilities, enjoy government regulations that award them a market. Governments do this to protect the consumer. A monopoly ensures consistent electricity production and delivery because there aren't the usual disruptions from free-market forces like competitors. There may also be high up-front costs that make it difficult for new businesses to compete.
It's very expensive to build new electric plants or dams, so it makes economic sense to allow monopolies to control prices to pay for these costs. Federal and local governments regulate these industries to protect the consumer.
Companies are allowed to set prices to recoup their costs and a reasonable profit. PayPal co-founder Peter Thiel advocates the benefits of a creative monopoly. That's a company that is "so good at what it does that no other firm can offer a close substitute. Monopolies restrict free trade and prevent the free market from setting prices.
That creates the following four adverse effects. Since monopolies are lone providers, they can set any price they choose.
That's called price-fixing. In United States antitrust law, monopolization is illegal. The main categories of prohibited behavior include exclusive dealing, price discrimination, refusing to supply an essential facility, product tying and predatory pricing. Monopolization is a federal crime under Section 2 of the Sherman Antitrust Act of The ability of one company to control prices or exclude competition in a particular market.
It is a requirement for the offense of monopolization, which is prohibited under Section 2 of the Sherman Act. As noted above, courts typically determine whether a firm possesses monopoly power by first ascertaining the relevant market and then examining market shares, entry conditions, and other factors with respect to that market.
Monopolies should not be legal, due to the price that they can set, for in the example of the utility Electric Company.
We do not have another company to go to for electricity, therefore we must pay the price that the company dictates to us. If we had another electric company, then there would not be any rising of prices, the competition would drive the price down. That is where Technology should come in. For example, It raises the prices which makes the profit better to be sold for the so-called owners and it's bad because it makes the price is so high the citizens of the US cannot pay and or live without the rules and regulations which would lead into the owners taking over all the profits ever made.
I said no thats why because i did and i will idk why but i just did and i with everyone that said no to because almost everyone on this website said no including my friend so no the should not be ban because i said : : : :.
I think monopoly should not be band, because It encourage people to express their oppotunity, and to make them also not to loss of money. For example if monologue should be band how are you expecting or poor people to survive even rich people. In regard you you aggre with me that monopoly should not be band. Monopolies should not be legal as this is not encouraging improvement in products instead making companies more money.
If monopolies are legal it means that they can raise price but also lower the quality this making them more money. This meaning that consumers will need to buy this product a lot more. It leads to pay cuts, costs hikes and a lack of choice. Monopolies are, in reality, entirely criminal. Free enterprise and the ability to have variety and make a personal selection or to simply have other options in the event of unexpected change or complications is a basic freedom that everyone should possess.
No, I do not think that monopolies should be legal and that monopolies create an atmosphere of unfair competition between businesses.
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