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Competition Regulation Essay

… Competition

Regulation and competition: An overview of existing market structures

Broadly speaking, three basic market structures exist within most capitalist economies: monopolies, oligopolies, and perfectly competitive markets. In the case of a monopoly, a single industry dominates the marketplace. The government may use industrial regulation to control a monopoly if it is inefficient to have competition within the industry, as in the case of utilities such as electricity. The government usually heavily regulates legal monopolies to prevent prices going stratospherically high for consumers. The government may also permit an oligopoly to exist, when only a few firms exist within the industry, giving the firms a high degree of control over their prices unless the government regulates the companies (Economics basics: Monopolies, oligopolies, and perfect competition,…. [read more]


Monopolies vs. Competition in a Perfectly Competitive Term Paper

… Monopolies vs. Competition

In a perfectly competitive market, price is determined by the true forces of market supply and demand; the seller can only control the quantity of goods it produces. In the long run, the firm maximizes profit or minimizes loss by producing the output where marginal revenue equals marginal cost. A competitive firm's marginal revenue is the given market price. However, barriers to entry (i.e. legal, sociological, natural, technology factors) prevent perfect competition and create alternative market structures, namely monopolies, oligopolies and monopolistic competition as summarized in Figure 1. Barriers to entry create the potential for long-run economic profit and prevent competitive pressures from pushing price down to average total cost. Many economists believe that a significant reduction in competition will lead to…. [read more]


Monopolies and Trusts: Appropriate Areas Term Paper

… Yet in the case of patents, there are both costs and benefits. On one side the cost creates a monopoly and usually leads to higher prices for the consumer, however, without patents we would doubtless not have seen many of the great inventions of history. Patents increase prices above marginal cost and speed up the pace of innovation. The protection from competition that is created by the patent allows firms to recover the costs of research and development; the costs of innovation. Network Economies are also established. In a Network Economy, a product becomes more valuable over time as it is used by greater numbers of consumers. One great example of a Network Economy is Microsoft's Windows operating system. This sytem enjoys a dominant position…. [read more]


Monopolies v. Competition Term Paper

… Monopoly vs. Competition

This paper presents an in-depth examination of the airline industry and the recent arguments over whether airline companies are being conducted as monopolies or competitors. The writer uses several examples of congressional testimony to illustrate the differences between the two. The writer also uses other chosen pieces of literature to discuss the difference between an airline monopoly and competition. There were eight sources used to complete this paper.

In recent years, there has been much attention paid to the airline industry and how it is conducting itself in business as a whole. While security became a major issue following the events of 9-11 it was not only security that was impacted on that fateful day. In addition, many of the airlines took…. [read more]


Competition vs. Monopolies in the American Economy Term Paper

… Competition vs. Monopolies

In the American Economy, business is controlled by the government and the consumer. When a person is the owner of a business that is alone in its product that it provides for the consumer, it is said to be a monopoly. As a monopoly you have sole control over price. Monopolies are regulated by the government in order to prevent the misuse of power that a monopoly has.

If a person can only get turkey, for example from one store. Then the store can charge a lot more for that turkey than it could if the store next door was selling it too because then there would be competition. Also, the store would not have to produce a better quality of turkey…. [read more]


Monopoly Market Characteristics of Perfectly Essay

… The profit maximization condition will be observed in a monopoly (Nguyen, Van Ness & Van Ness, 2007)

The Difference in the Profit Maximization Conditions for Perfect Competitive and Monopoly Markets

The firms operate with an objective to maximize the wealth or the value of the firm. The firms try to adhere to the theory of firm in different time frames. Irrespective of the fact that a firm is operating in short run or long run it will strive to maintain the profitability at an optimal level. By considering the operations of a firm in short run the facets of the firm might be viewed from a different perspective Short run is the time frame in which a firm cannot altar its outputs and capacity in…. [read more]


Economic Model for Monopoly Analysis in Telecommunication Term Paper

… ¶ … Economic Model for Monopoly Analysis in Telecommunication:

Proposal to demonstrate Uniqueness. Mathematical Economic Model.

The Telecommunications Act of 1996 sought to end the monopoly that once existed in the telecommunications industry. Since its adoption, the telecommunications industry has been undergoing a period of rapid change and development. The entry of new players into the market encouraged them to seek new ways to attract and keep customers. These changes have led to a rapid influx of new technology and services.

Many times what defines a monopoly is not clear in every circumstance and there are many pending lawsuits for violations of Anti-trust laws in the courts today. Economic models are useful in resolving issues of whether a monopoly truly exists, or whether claims are…. [read more]


Microsoft Monopoly Microsoft Was Investigated Essay

… Microsoft used its monopolistic powers to suppress its competitors in the PC operating system where both the consumers and the competitors were harmed in the process by denying them the existence of a free and open market that allows for competition and fair practices. It also enjoyed the economies of scale which the entrants could not match due to the limited resources giving it the market power to produce cheaply and determine the price in the market (Howard Gilbert, 2003).

Monopoly is not good in any given field since lack of competition lowers the standards of the products or services being offered by the sole provider. The absence of competition results in rolling out of substandard products to the market as well as capturing the…. [read more]


Microsoft Monopoly Essay

… Microsoft Monopoly

Part of modern capitalism is, of course, the idea that there is competition in the marketplace. Within any economic system, there are a number of different types of agreements and templates that may be implemented. Some, of course, are legal and encouraged, others illegal and discouraged. For example, in a given marketplace there are ways industries and businesses can approach business competition. Collusion is an agreement that occurs between two entities to limit open competition by deceit or fraud. Within that same market, if one business or entity dominates the market, a monopoly is reached. This monopoly can be geographic (structured based on geographic criteria -- easier to produce and ship to a given area); a natural monopoly (a firm experiencing increasing returns…. [read more]


Microsoft Monopoly Since Feudalism Gave Essay

… Microsoft robustly defended its product indicating that the company had spent millions on research and development with a product profile that was innovative, not a monopoly, since users could opt for another OS, Office or Internet search program. The Judge, however, found that Microsoft had indeed used principles of a powerful monopoly to reduce market share from Apple, Netscape, and Java. Microsoft appealed, and a settlement was reached forcing the company to share its application codes with other companies ((Department of Justice, 2012).

By definition, a monopoly is a marketing structure where there is only one producer and that producer can raise prices and control the market. While this was somewhat true, at any time any consumer could find alternatives -- that they did not…. [read more]


Attorney-General of Belize V Essay

… The Supreme Court judge Conteh favored the government argument, but Court of Appeal judge, Carey was of the opinion that it was no "necessity" in the government's terms. Morrison of the same court further quoted article 90(D)(ii) saying that the hiring and firing of directors, is articulated but not their tenure of office, and that Conteh CJ's interpretation was not consistent with the articles.

Legal Issues Raised

As much as Conteh's interpretation is welcome especially in regard to the new government's efforts to fight corruption, Carey and Morrison's perspective bring clarity to the whole issue pointing at the legal issues. However, it is a challenge resolving these issues using imputed intentions. Imputed intentions are subjective and many a times uncertain. This is because the prevailing…. [read more]


Antitrust and Intellectual Property Term Paper

… Bid rigging is akin to price fixing in that a firm that is asking for bids on a project has preselected one of the bidders to win. The pooling of patents can actually be of an advantage to the market according to Sheila Anthony, the Commissioner of the Federal Trade Commission (FTC) President Bush, but becomes a problem "when a pooling arrangement harms competition among entities that are actual or potential competitors." The main focus of any of these violations is whether it is considered pro-competitive or anticompetitive behavior. The primary distinction here is that procompetitive actions are supposed to spur the competition and anticompetitive are not, they act as a negative influence. In general, the Department of Justice "weighs the likely procompetitive benefits against…. [read more]


Weyerhaeuser Co. V. Ross-Simmons Hardwood Lumber Term Paper

… Weyerhaeuser Co. v. Ross-Simmons Hardwood Lumber Co.

The landmark Supreme Court decision Weyerhaeuser Company vs. Ross-Simmons Hardwood Lumber Company, 411 F.3d 1030 (2005) has had a significant effect on the judicial landscape pertaining to antitrust law, even within the short several years sine it was issued. The case involved the legal issues of antitrust laws and monopolies, specifically as to what test was to be utilized when a predatory bidding occurs. Essentially, the Supreme Court held that the test used for over a decade to govern predatory pricing was the same test that should be applied to incidences of predatory bidding. Predatory pricing occurs when someone lowers the price of their own product with the hope that competitors cannot afford to match the low prices.…. [read more]


Public Policy and Unintended Consequences Thesis

… In this way, transparency in action and behavior is also important to the public as end-user. From a managerial perspective, the incentive to become transparent is, in a way, related to the monopolization within a certain industry. If the regulations exist where it is illegal or unfavorable for a firm to hold a monopoly (i.e. In the presence of certain government regulations), it will have more of an incentive to be as transparent as possible. This statement holds true only when the firm is not also incentivised to give first stakeholder priority to the government, through unneeded and unmoderated regulation.

These rules and understandings of market forces and transparency also have a direct application within the UK's party finance realm. This means that as exceptionalism…. [read more]


Computer Monopoly Term Paper

… Computers/Internet

What is particularly interesting about the Microsoft Monopoly trial is the fact that much was said about Microsoft's alleged attempt to completely monopolize a market that should be open to competitors as well. However, Microsoft's supporters hold that the trial has been unfair to the company's right to compete to the best of its ability. It is precisely this ability to compete that brought the company to the witness chair to defend its position. Another interesting aspect of the trial is to examine the statements of the various stakeholders. When examined closely, these statements are often revealing with regard to the views that computer business moguls hold regarding the roles and definitions of computer applications, as opposed to those held by the general public.…. [read more]


Vladimir Lenin's "Imperialism, the Highest State Book Report

… ¶ … Vladimir Lenin's "Imperialism, the Highest State of Capitalism." Written in 1916, the book was an explanation of why capitalism and imperialism were wrong vs. The socialist views of Marx and the Soviet revolutionaries. Lenin proposes that capitalism and imperialism oppress the weak and the worker while building monopolies and power for the rich and allows for payoffs to be made to officials that keep the workers in line. He proposed that the smaller and undeveloped countries were being exploited and would revolt, like Russians, and lead to the overturning of the oppressors.

Lenin's thesis was the higher class through imperialism was able to control and manipulate the lower classes. He arrived at his conclusions based on the Tsar's rule in Russia and the…. [read more]


Urban Economics Research Proposal

… Urban Economics

It would be hard to find a government official who did not stress the importance of economic development -- voters like to hear about economic growth because they like jobs and security -- but there is no magic button to push to develop an economy. Fostering economic development goes much further than simple Econ 101 answers like "lower taxes." Even where such simplistic strategies are helpful, they need to be guided by a coherent vision of economic development that is rooted in sound theory. Such an approach allows for consistent long-term policy that facilitates long-run economic development, rather than ad hoc policymaking that only seems to serve short-term interests. Many studies of late have focused on clustering as a means of building strong…. [read more]


Market Structures in Detail Research Paper

… Monopolies on the other hand lie at the other end of the continuum, so that they become price setters. This they can do by either adjusting quantity or price itself. The strategy that the firms follow under this regime are that of optimal pricing, where the firm tends to produce where average costs are the lowest.

As far as firms in monopolistic competition are concerned, these too set prices competitively at the point where the MC equals the marginal revenue added. The price is determined by the average revenue curve, which is also the industry demand curve.

Looking at firms in oligopolistic competition, these firms set prices based on competitor's prices as well as the relative elasticity of their product. Prices at each point are…. [read more]


Economics of New Ideas Term Paper

… These days, more and more economists are questioning what sparks growth. Many of these new economists base their ideas on those of Joseph A. Schumpeter, an Austrian economist and Harvard University professor (Farrell, 1994). Like Schumpeter, these economists are concentrating on technology, innovation, and knowledge. "The one fact that comes from economic history is the ability of the human mind to break through barriers that weren't imaginable 50 years ago." says Joel Mokyr, economic historian at Northwestern University (Farrell, 1994).

In the past, mainstream economics have struggled with the question of what determines long-term growth. In the late 1950s, Nobel laureate Robert M. Solow of Massachusetts Institute of Technology suggested that increases in the economy's labor supply and capital stock only partially explained economic growth.…. [read more]


Microsoft Antitrust Case Antitrust Practices Research Paper

… Critics, however allege that the settlement still did little to erode Microsoft's monopoly in a meaningful fashion.

It should be noted that Microsoft had many defenders, who alleged that having such a large company that could operate on an economy of scale enabled prices to be lower for consumers: in the pre-Microsoft era, PCs were an expensive luxury item but that is no longer the case. However, the problem remains that Windows still has a monopoly as an operating system. Even though Apple has 'bested' Microsoft in the music and phone categories, it cannot unseat Windows. In fact, Apple transitioned to Intel processors in 2006 primarily to enable Mac users to run Windows. Mac users were 'out of step' with the rest of the computing…. [read more]


Online Antitrust Issues Antitrust Law Essay

… When Microsoft gained over 90% share in its operating system (OS), web browser (I Explorer) and office software (Word, Excel, Outlook, etc.), the government sued. On one hand, Microsoft bundled its products in such a manner that computer manufacturers "had" to include them in their product in order to sell hardware. On the other, definitions of monopolies hold that there is only one producer -- and clearly, there are many operating systems, and consumers do have a choice. Simply because Microsoft was easier and consumers simply stayed with it because it was there, or it worked -- and then third parties wrote applications for it, causing a cycle of more and more consumers required to run MS products. Was this bad for society? Perhaps it…. [read more]


Marketing SLP Target Market Brand Case Study

… Strengths

Strong Brand

Innovation

Heavily Capitalized

Customer Loyalty

Weaknesses

Environmental Supply Chain Issues

Human Rights Issues in the Supply Chain

Internal Management Issues

Opportunities

Grow Market Share

Find New Product Niches

Continue to Diversify Current Product Mix

Threats

Competitive Industry Pressures

Negative Publicity

Imitation

V. Competitor Analysis

Apple faces fierce competition in all of the various markets in which it operates. For example, in the PC market and accessories, many companies offer similar products. In this market Apple must compete with major market players such as IBM, Dell, HP and Toshiba. There is also a big opportunity in the online media market as a media provider, Apple's iTunes and iPod face pressure from Netflix and other streaming services that are now gaining in popularity. In…. [read more]


ATT and Antitrust the History Essay

… In the end, the merger may occur but, regardless, it is quite clear that the new AT&T is a different organization that the one that opposed the U.S. Justice Department endlessly for decades. The AT&T organization prior to the breakup would have never been intimidated into inaction by threats of litigation or even actual litigation. It would have fought vigorously to defend its position. Today's company has obviously adopted a more compromising approach that may or may not prove successful in the corporation attaining its goal. What is clear, however, is that the AT&T Corporation has lost some of its ability to control the industry and that this fact alone indicates how the legal environment surrounding antitrust laws has advanced since the 1970's. In the…. [read more]


Sports and Anti-Trust Term Paper

… The Maurice Clarett Case

Regarding the NFL's position, they do not believe they are unreasonably restraining trade by insisting on monitoring and controlling the entry of players into the game. They are simply setting guidelines by which all players can have equal access to the game, and all teams within the league can have a fair and equal access to the annual crop of new players. According to NFL's executive vice president Jeff Pash, "We will move promptly for a stay in the Court of Appeals. We continue to believe that last week's ruling is legally erroneous and not in the best interests of the NFL, college football, or professional and college players. We are a long way from a final decision." (nfl.com, online) Pash…. [read more]


Intra-Industry International Trade Case Study

… The Australian data includes one data set that consists of manufacturing commodity (SITC subgroups 5-8) and a second data set -- categorically is referred to as broad manufacturing -- combines commodity (SITC subgroups 5-8) and processed food (SITC subgroups 0-1) (Sharma, 2002). A 7-percent increase in broad manufacturing was seen from the 20-percent level achieved in 1979/1980 to 38% in 1992/1993 (Sharma, 2002). The primary driver of this increase is believed to be due to robust growth in intra-industry trade in commodity manufacturing that reached 29% in 1992/1993 from the 15-percent level of 1979/1980 (Sharma, 2002). The processed food sub-sectors that showed the most dramatic rise in Australia during the same time period were cereals, confectioneries, meat products, and tobacco products (Sharma, 2002).

As stated…. [read more]


South Korean & German Trade Show Industry Dissertation

… Trade Show Industry in Germany and South Korea



Trade as Marketing and Communication



Area of Study



Study Components



The History of Trade



History of Trade Shows



Patterns of Trade Shows



Marketing Theories



Trade Shows and Market Entry



Development of the Trade Show Industry



Contributions of the Trade Show Industry



Marketing Processes in the Trade Show Industry



Marketing Planning and Tactical Considerations in the Trade Show Industry



Qualitative vs. Quantitative Research



Data Analysis Plan



COMPARATIVE PERSPECTIVES OF THE TRADE SHOW INDUSTRY…. [read more]


Merger Activity Due in Large Term Paper

… ¶ … merger activity due in large part to the internationalization of trade, the globalization of the transportation industry and innovations in telecommunications. Mergers have been used for a wide range of purposes, including achieving a synergistic effect, breaking up corporations that have become too large and unwieldy, and to help companies expend their market share in other regions. Over time, merger activity tends to assume a pattern of waves that can be attributed to several known factors such as severe economic shock or lax government regulatory polices, but a wide range of other factors have also been shown to contribute to the cyclical pattern of wave mergers, an issue that is the focus of this study. The primary aims of this study were to…. [read more]


Economics of the Pharmaceutical Industry Thesis

… Economics of the Pharmaceutical Industry

The pharmaceutical industry is highly complex and segmented. The costs for bringing a new product idea to the market are high. It is a long process that is heavily influenced by government regulation, the need for patent protection, and the risks associated with failure. The failure rate is high, making this one of the most volatile industries in the world. In order to survive and thrive, many companies have resulted to vertical integration as the key to survival. This model has benefits for both the larger acquiring company and for the smaller company in terms of survival.

The Economics of the Pharmaceutical Industry

The pharmaceutical industry is the heart of the healthcare system. Pharmaceuticals are necessary, sometimes as necessary as…. [read more]


Capitalism, and at the Same Time Term Paper

… ¶ … capitalism, and at the same time, since the 1980s, with the change of Soviet Union into Russia, it is probably the only major economic system left in the world. There are many phases of capitalism and the earliest form was mercantilism started in Rome and the Middle East in the middle Ages. The form was the distribution of goods by traders in a manner that they could get a profit. To achieve this, the goods were bought at one location for a low price, shifted to another area and then sold at a higher price. Even today, capitalism follows the same principles, and gets large amounts of profit by getting goods at prices lower than they are sold for. Yet in the entire…. [read more]


Changes in Industry the Case of Microsoft Essay

… ¶ … Industry- the case of Microsoft

Merger Regulations

Government regulation in mergers

Companies intending to merge are required to provide information on their transactions to government for authorization. They are required to provide information on market share, and any other industry related matters which would essentially change upon the merger. The authorities concerned will use the information provided to ascertain if the merger will lead to anticompetitive practices thus, loss of welfare. When assessing the information details, rival companies may provide the information to the body. The information will be considered and if the regulatory body is satisfied that the merger is okay to undertake they would recommend. On the contrary if the merger is bound to be harmful to the market equilibrium then…. [read more]

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