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In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
By this time, the hand-made games became known simply as Monopoly. [31] [32] Charles Muhlenberg and his wife, Wilma, taught the game to Wilma's brothers, Louis and Ferdinand "Fred" Thun, in the early 1920s. [29] By 1906, Magie had moved back to Illinois, and married Albert W. Phillips in 1910. [33]
March 1, 2024, marks Ohio's 221st birthday. That's right: the Buckeye State was officially granted statehood on March 1, 1803 — 27 years after the United States declared independence from ...
It is irrelevant whether or not the businesses succeed in increasing their profits, or whether together they reach the level of having market power as might a monopoly. Such collusion is illegal per se. United States v. Trenton Potteries Co., 273 U.S. 392 (1927) per se illegality of price fixing
Get more Ohio State football news by listening to our podcasts. This article originally appeared on The Columbus Dispatch: Cleveland drafts Mike Hall Jr. in 2024 NFL draft: Pros, cons of pick Show ...
In United States antitrust law, monopolization is illegal monopoly behavior. The main categories of prohibited behavior include exclusive dealing, price discrimination, refusing to supply an essential facility, product tying and predatory pricing. Monopolization is a federal crime under Section 2 of the Sherman Antitrust Act of 1890.
The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law.While some actions like price-fixing are considered illegal per se, other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably restrain trade.