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ADMS 2610 Chapter Notes - Chapter 3: Rigging, Exclusive Dealing, List Price

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School
York University
Department
Administrative Studies
Course
ADMS 2610
Professor
Robert Levine

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Document Summary

Forces of competition and the free market should regulate industry rather than the government: control those activities that restrict or interfere with competition. Originally governed by the common law: restraints of trade which were unreasonable or contrary to public interest were actionable at law. Competition act: most of the control of anti-competitive activity is found within this act, general purpose: Prohibits combinations or conspiracies that prevent or lessen competition. Reviews mergers or monopoly actions that may operate to the detriment of the public. Nature: blend of criminal and administrative approaches. Some practices prohibit and subject to criminal proceedings. Some practices subject to review and control: civil remedies. For those injured by such practices which are prohibited. Competition tribunal: part of enforcement process, lay members and federal court judges, can issue orders, with force of a judgment of a court, can investigate and review certain business practices, must make inquiry first.

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Related Questions

What role does US government play with respect to market competition?
A. policing anticompetitive behavior and prohibiting contracts that restrict competition
B. preserving competition by regulating price and/or quantity of output
C. intervening in the price and output decision of businesses
D. maintaining abundant government-owned firms to ensure consumer-friendly pricing

Monopoly is nearly always seen as something undesirable. Courts have wrestled with monopoly for ages, sometimes defining it as: "the power to control prices and exclude competition", "restraining trade", or "unfair and anti-competitive behavior." Should monopolistic practices be condemned and outlawed? Explain briefly.

Would need some guidance in answering the following question:

In order to protect consumers from predatory business practices, governments in open-market economies often establish antitrust laws. The Canadian Competition Act, for example, is intended to protect consumers by prohibiting anticompetitive business practices and promoting competition in the Canadian marketplace. Evaluate the wisdom of having the Competition Bureau (responsible for the administration and enforcement of the Competition Act) use profit as a measure of monopoly power in deciding whether to prosecute a case. How would such a rule be expected to affect the behavior of firms with high profits? In what ways might any changes induced by such a rule be socially beneficial, and in what ways might they be socially harmful?