What are examples of firms in an oligopolistic market that abuse their power
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 The Oligopoly Problem
argued that oligopolies fall through the cracks of these regula!ons and leave
consumers unprotected from harmful business prac!ces where industries are
highly concentrated. Read the article and respond to the following in your ini!al
post:
What are examples of firms in an oligopolistic market that abuse their
power? Explain how they abuse their power and describe the impact on
consumers.
Do you agree with the author’s feelings about increased government
oversight of such industries? Why or why not?
In your response posts to peers, comment on your own experiences with such
industries and on their impact on you. Addi!onally, discuss whether you agree or
disagree with your peer’s stance on regula!on, explaining why.
Answer preview to what are examples of firms in an oligopolistic market that abuse their
power
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