What are examples of firms in an oligopolistic market that abuse their power? Explain how they abuse
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The United States has a variety of regulations to address the economic harm resulting from monopoly power in an industry. This includes the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914. These acts were aimed at restricting the formation of cartels and monopolies to protect consumers and ensure competition. The article: www.newyorker.com/tech/elements/the-oligopoly-problem argued that oligopolies fall through the cracks of these regulations and leave consumers unprotected from harmful business practices where industries are highly concentrated. Read the article and respond to the following:
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An oligopoly is defined as a market structure wherein several corporations dictate When a few corporations share a market it is held to be greatly concentrated Despite the domination by only a couple ...View the full answer
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Jonas Araujo
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