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What are the arguments in favour of anti-monopoly legislation and under what conditions might monopolies be allowed to exist?
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Drakakakis Emmanouil Spring Term 2003 Department of Management Economics Essay #2 1. What are the arguments in favour of anti-monopoly legislation and under what conditions might monopolies be allowed to exist? Before discussing the arguments in favour of anti-monopoly legislation and the conditions that a monopoly would be allowed to exist it is important to define monopoly and its market structure. It would be easy to define monopoly by considering the existance of only one firm in a certain industry. but the definition of industry is not always that specific. For example, BMW might have a monopoly in a specific type and design of a car but it certainly does not have a monopoly in the whole car industry area. Or 3M might hold a patent certificate and certainly a great slice of the Post-It notes but that does not mean that the consumer cannot access stick-on notes almost identical to the post-it's (and maybe...
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