--%>

Illustrate 2nd function to promote and maintain competition

Illustrate the 2nd function to promote and maintain competition?

E

Expert

Verified

A second function is to promote and maintain competition. Government does this through antitrust laws to make anti-competitive behavior illegal, and by regulating monopoly power in the case of “natural monopolies,” where competition is not efficient, as is the case with many public utilities.

   Related Questions in Business Economics

  • Q : Nation’s production possibilities curve

    Suppose that, based on a nation’s production possibilities curve, for 10,000 pizzas domestically an economy must sacrifice to get the one additional industrial robot it desires, but can get that robot from another country in exchange for 9,000 pizzas. To the fol

  • Q : High-convexity portfolios outperform

    a) Whether the bond market moves up or down, high-convexity portfolios will for all time outperform low-convexity portfolios of equal duration and yield." Elucidate the argument supporting this statement and the connection to the classical immunization strategy. What

  • Q : Innate psychological attributes of

    As illustrated by Adam Smith that there are two innate psychological attributes of humans. One is which people have a powerful wish to better their individual circumstances. The other is as human beings so we are: (1) more interested

  • Q : What do you mean by Financial Linkages

    What do you mean by Financial Linkages in U.S. and World Trade?

  • Q : How government might manipulate its

    Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?

  • Q : Describe High operating leverage

    Briefly describe High operating leverage?

  • Q : Meaning of Modigliani-Miller Briefly

    Briefly describe the meaning of Modigliani- Miller (M and M) approach?

  • Q : Explain the volume and pattern of U.S.

    Explain the volume and pattern of U.S. and World Trade?

  • Q : Price charges of firm in perfectly

    Assume that the equilibrium price within a perfectly competitive industry is $15 and a firm into the industry charges $21 there. Which of the given will occur: w) the firm's profits will rise. x) The firm's revenue will rise. y) The firm will not sell

  • Q : Utilitarianism of Jeremy Bentham with

    The utilitarianism of Jeremy Bentham would clash most strongly along with the philosophic principles of: (w) the epicureans who followed the teachings of Epicurus [c. 341 to 271 BC]. (x) hedonism. (y) the Greek philosophers and mediev