#MONOPOLY ECONOMICS TEST ANSWERS PDF#

The hypothetical monopolist test is one of the organizing principles of the Horizontal Merger Guidelines, and it is a test increasingly applied to define markets, not just in merger cases, but throughout antitrust, and not just in the U.S., but throughout the world. Harkrider Axinn, Veltrop & Harkrider, LLP

OPERATIONALIZING THE HYPOTHETICAL MONOPOLIST TEST For an official signed copy, please contact the Antitrust Documents Group.

#MONOPOLY ECONOMICS TEST ANSWERS PDF#

To view the PDF you will need Acrobat Reader, which may be downloaded from the Adobe site. Only then real consumer protection can be achieved with success.This document is available in three formats: this web page (for browsing content), PDF (comparable to original document formatting), and Word. They should know their rights and must exercise them. Means the right to acquire the knowledge and skill to be an informed consumer throughout life.Ignorance of consumers, particularly of rural consumers, is mainly responsible for their exploitation. They can also take the help of consumer organisations in seeking redressal of their grievances. It also includes right to fair settlement of the genuine grievances of the consumer.Ĭonsumers must make complaint for their genuine grievances.Many a times their complaint may be of small value but its impact on the society as a whole may be very large. Means right to seek redressal against unfair trade practices or unscrupulous exploitation of consumers. The Consumers should form non-political and non-commercial consumer organizations which can be given representation in various committees formed by the Government and other bodies in matters relating to consumers. It also includes right to be represented in various forums formed to consider the consumer's welfare. Means that consumer's interests will receive due consideration at appropriate forums. This right can be better exercised in a competitive market where a variety of goods are available at competitive prices This is because unrestricted right of the minority to choose can mean a denial for the majority of its fair share.

It also includes right to basic goods and services. In case of monopolies, it means right to be assured of satisfactory quality and service at a fair price.

Means right to be assured, wherever possible of access to variety of goods and services at competitive price. This will enable him to act wisely and responsibly and also enable him to desist from falling prey to high pressure selling techniques. Means right to be informed about the quality, quantity, potency, purity, standard and price of goods so as to protect the consumer against unfair trade practices.Ĭonsumer should insist on getting all the information about the product or service before making a choice or a decision. They should preferably purchase quality marked products such as ISI,AGMARK, etc The purchased goods and services availed of should not only meet their immediate needs, but also fulfil long term interests.īefore purchasing, consumers should insist on the quality of the products as well as on the guarantee of the products and services. Means right to be protected against the marketing of goods and services, which are hazardous to life and property.

Monopoly economics test answers