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Anti trust law and cartel
Essay specific features
Written by:
George P
Date added:
February 16, 2016
Level:
University
Grade:
A
No of pages / words:
3 / 640
Was viewed:
5479 times
Rating of current essay:
Essay content:
The monopoly, a limit on competition, is an example of market failure. Competition among merchants in foreign trade was common in ancient times, and it has been a characteristic of mercantile and industrial expansion since the middle Ages. Economic theorists had come to regard competition as a natural outgrowth of the operation of supply and demand within a free market economy...
displayed 300 characters
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Economic theorists had come to regard competition as a natural outgrowth of the operation of supply and demand within a free market economy. The price of an item was seen as ultimately fixed by the confluence of these two forces. Early capitalist economists argued that supply-and-demand pricing worked better without any regulation or control...
displayed 300 characters
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