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Analyse the economic rationale for a competition policy, such as that in the UK, which is intended to limit potential abuses arising from the exercise of monopoly power or anti-competitive practices
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Analyse the economic rationale for a competition policy, such as that in the UK, which is intended to limit potential abuses arising from the exercise of monopoly power or anti-competitive practices, illustrating your analysis with reference to at least two examples of competition policy. The prevention of monopolies arising in the UK market is essentially for the purpose of the consumer. If monopolies were to form then prices would rise beyond recognition as there would only be one supplier of possibly essential goods leaving no option for the customer to pay the extortionate prices they are asked to pay. There are two types of monopoly, the pure monopoly and the natural monopoly. The difference between the two being that a pure monopoly is the only supplier in that field of output, with no close substitute and no threat of competition, whereas a natural monopoly is a company which once it...
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