The purpose of the federal antitrust laws is to control private economic power by promoting and encouraging competition. Explain why competition is valued.

Question

Quizplus · Accepted Answer

The Answer is Competition is believed to 1) keep costs and prices lower and competition higher; 2) encourage product and service innovations and efficient allocation of resources; and 3) give consumers broader choices in the marketplace. In short, competition maximizes consumer welfare.

The Purpose of the Federal Antitrust Laws Is to Control