Antitrust Practices and Market Power
Research authoritative articles using the news and the DeVry Online Library (http://library.devry.edu) for a recent case of antitrust investigation. You are free to choose a case from any industry and any part of the world. Based on the case you have selected, answer the following questions.
Why was/were the firm(s) investigated for antitrust behavior?
Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investigated.
Given your research and findings, are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position.
Provide at least one example of a case where having a monopoly or oligopoly may actually benefit the society.
Based on your findings to the questions listed above, write a report with a minimum of 300 words in essay format in APA style , using correct economic terms covered in the discussions. If you ONLY write 300 words, you probably won't be able to fully answer the questions.
Key concepts to include in your paper include the following.
Monopoly Market Structure
Oligopoly Market Structure
Barriers to Entry Into the Market
Natural Monopoly
Government Monopoly
Downward Sloping Demand Curve
Economies of Scale
Price Fixing
Collusion
Monopoly Pricing
Price Maker
Market Power
Economic Profits
Imperfect Competition
Rent-Seeking Behavior
X-Inefficiency
Deadweight Loss to Society
Marginal Cost
Marginal Revenue
Antitrust
Cite all your references in APA format.