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overnment entities. They safeguard consumers from unfair or illegal business practices and ensure an equal competition for consumers too.
One great example of an antitrust law is that of the Rockefeller’s Standard Oil. The company reduced prices by over 50% and also purchased a few of its rivals. In addition, as their dominance of the market grew and the business lowered its the cost of production as well as prices more. This allows the company to continue to make bigger profits! This is an excellent example because it’s well-known that some companies will jack up their prices while keeping their costs for production low, and an oil company is a great example of this. The kind of scenarios that occur are the reason antitrust laws are in place to safeguard consumers.
Antitrust law is very worried regarding the potential of merging companies. The merger of two companies offering identical products or service will effectively wipe off any rival. These situations can be prevented by antitrust laws. They assure that everyone has the chance to earn money from the firm they manage.
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