Asked by DeAnna Schmidt on May 21, 2024
Verified
The basic purpose of antitrust laws is to
A) provide subsidies for American business.
B) limit monopoly power in industry.
C) control prices to protect consumers.
D) enforcelaws that restrict competition.
Antitrust Laws
Regulations designed to promote competition and prevent monopolies by prohibiting business practices that restrict or control market competition.
Monopoly Power
The ability of a single seller or firm to influence and control the market price and total supply of a product or service, to the exclusion of competing firms.
- Identify key regulatory and antitrust policies and their objectives.
- Apprehend the legal tools and acts designed to prevent monopoly power and promote competition.
Verified Answer
KZ
kevin zhi-hao chongMay 23, 2024
Final Answer :
B
Explanation :
Antitrust laws are designed to prevent and reduce the practice of monopolies, thereby ensuring competition in the marketplace. This is to protect consumers from the disadvantages of monopolistic practices, such as higher prices and reduced innovation.
Learning Objectives
- Identify key regulatory and antitrust policies and their objectives.
- Apprehend the legal tools and acts designed to prevent monopoly power and promote competition.