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The United States has a variety of regulations to address the economic harm resulting from monopoly power in an industry. This includes the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914. These acts were aimed at restricting the formation of cartels and monopolies to protect consumers and ensure competition. The article The Oligopoly Problem argued that oligopolies fall through the cracks of these regulations and leave consumers unprotected from harmful business practices where industries are highly concentrated. Read the article and respond to the following in your initial post: What are examples of firms in an oligopolistic market that abuse their power? Explain how they abuse their power and describe the impact on consumers. Do you agree with the author’s feelings about increased government oversight of such industries? Why or why not? In your response posts to peers, comment on your own experiences with such industries and on their impact on you. Additionally, discuss whether you agree or disagree with your peer’s stance on regulation, explaining why.
While cartels are generally illegal in the US, Congress in 1918 passed a law that allows American firms to form export cartels that collude specifically on products exported out of the US. Discuss whether each of the following features will make expo..
It is obvious that US fiscal policy makers cannot manage balancing the budget every year, As an alternative, Balancing the budget over the business cycle requires
Two countries, France and the US produce just one good – chicken. Suppose that the price of beef in the US is $2.80 per kilogram, and in France it is 3.70 EURO per kilogram. According to PPP theory, what should be the $/EURO spot exchange rate? What..
Write a short essay (about 25 words) on the opportunities and challenges of international marketing - List and explain four factors that determine market characteristics - Explain the following terms IN YOUR OWN WORDS o Political Risk o Gray market o..
Expansionary monetary or fiscal policy would most likely be effective in reducing which type of unemployment? .Frictional unemployment
Suppose that Bridget and Erin spend their incomes on two goods, food (F) and clothing (C). Bridget’s preferences are represented by the utility function U(F,C) = 10FC, while Erin’s preferences are represented by the utility function U(F,C) = 0.20F2C2..
Outline some poly options for government intervention. Describe how market power prevents optimal outcomes. Explain how externalities distort market outcomes. Explain how the economic growth is measured.
Mark's demand curve for the company's product is: At what output is the demand for the firm's product price elastic? If the firm wants to maximize its dollar sales volume, what price should it charge?
Which of the following is example of moral hazard?
Look at the figure The Production Possibility Frontiers for Jackson and Tahoe. In autarky, Jackson produces and consumes 30 head of cattle and 80 bushels of wheat, while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat. With comp..
A June 10,1996, Wall Street Journal article titled “Americans Eat Up Vitamin E Supplies” discusses the shortage that existed for vitamin E at this time. According to the article, the shortage was created by two changes in the marketplace. First, the ..
Identifying and shaping public opinion has become a major goal of campaigns and elections. Identify and discuss the process by which people develop their political ideas. What are the four traditional agents of socialization and three additional new ..
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