Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    3
    ReputationRep:
    Have this question:
    1. A) Explain, with the use of a diagram, the reasons why a monopoly is illegal per se in the United Kingdom.
    And I honestly have no clue how to answer this? I've tried googling it but haven't had a lot of luck if I'm honest. Any help?
    Offline

    8
    ReputationRep:
    Is this an A-level question?
    Offline

    10
    ReputationRep:
    They're not illegal per se, but this law

    https://en.wikipedia.org/wiki/United...ompetition_law

    basically makes non government monopolies useless
    • Thread Starter
    Offline

    3
    ReputationRep:
    It's a first year undergraduate question from a past paper
    Offline

    18
    ReputationRep:
    I will give my 2 cents. Not quite sure if this is applicable, however if you have no other idea of what diagram to put I would consider a standard monopoly competition diagram, highlighting the extent to how x-inefficient a monopoly is, due to a lack of competition and the magnitude of super-normal profits derived from monopoly power, with a low consumer surplus (as prices are extremely high in theory)

    Offline

    10
    ReputationRep:
    lol for some reason these laws don't apply to companies in our area, sky has a complete monopoly on our area. I swear they are deliberately throttling our internet because we cant do anything about it )':.
 
 
 
Poll
Do you agree with the PM's proposal to cut tuition fees for some courses?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.