29
The Mrtp and the Competition Acts
A monopoly is said to exist where at least one person or a company controls one-third of a local or national market. In many countries, the attitude of the public towards complete and partial monopolies has for many years been one of acute and distinct opposition. This has been mainly due to the abuses of monopoly which include: (i) high prices and restricted output; (ii) wrong allocation of resources; (iii) abuse of investors by monopolists painting alluring pictures of high profits and perpetual exploitation of the market; (iv) preventing inventions since a monopolist’s profits do not depend upon continuous progress in production; (v) increasing the instability of the economic system; (vi) unfair trade ...
Get Indian Economy now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
