Question: https://youtu.be/IcghGCBROR0 Watch this 11 min. Answer these questions. What are the purposes of anti-trust laws? Explain the rise of anti-trust laws in the late 19

https://youtu.be/IcghGCBROR0

Watch this 11 min. Answer these questions.

  1. What are the purposes of anti-trust laws?
  2. Explain the rise of anti-trust laws in the late 19th
  3. How did anti-trust laws shift after WW1? (WW1 ended in 1918)
  4. What does the documentary mean that anti-trust laws depend on politics more than any other area of law?
  5. Why did anti-trust enforcement shift again after WWII? (This was the Peak Enforcement Era that culminated in the break-up of AT&T. At its height of power ATT&T controlled all phone service in U.S. You could not even own a private phone!)
  6. What was the "consumer welfare standard" that changed anti-trust enforcement after AT&T?
  7. Give examples from the video of increased market shares in different industries by 2019.

Use concepts like:

  • Opportunity cost
  • Supply and demand
  • Advantages of competition (both allocative and productive efficiency)
  • What determines a market power
  • Characteristics of monopolies
  • Disadvantages of monopolies
  • How monopolies can be regulated
  • Incentives

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