Question

A consumer-focused approach to antitrust policy implies that antitrust policy should seek to a. stem the tide of growing industrial concentration to address income inequality. b. constrain the political influence that some giant firms have amassed by virtue of their size. c. alleviate privacy concerns that have become widespread in the digital era. d. enhance competition to ensure low prices and broad product availability,

Answer 1

A consumer-focused approach to antitrust policy implies that antitrust policy should seek to enhance competition to ensure low prices and broad product availability.

Step-by-step explanation:

A consumer-focused approach to antitrust policy implies that antitrust policy should seek to enhance competition to ensure low prices and broad product availability. This means that the focus should be on promoting competition in the market to benefit consumers. Antitrust policy aims to prevent monopolies or excessive concentration of power that could harm competition and ultimately lead to higher prices and limited choices for consumers.

Answer 2

A consumer-focused antitrust policy prioritizes enhancing competition to ensure consumers have access to low-priced, widely available products. This goes hand-in-hand with the role of U.S. antitrust law, which prevents reduced competition that can lead to increased prices and stifled innovation. Regulators such as the FTC work to evaluate mergers and their effects on the market to maintain competition.

Step-by-step explanation:

A consumer-focused approach to antitrust policy implies that the policy should primarily enhance competition to ensure low prices and broad product availability. This approach aligns with the public policy's task of encouraging behaviors that benefit the broader society, rather than just a few large companies. U.S. antitrust law, established in the late 1800s, was designed to address issues of reduced competition, which can lead to higher prices, lower product quality, and decreased innovation. While some mergers can make firms operate more efficiently and benefit consumers, others may lessen competition and have the opposite effect. Thus, the role of antitrust regulators, like the FTC and the Department of Justice, is to scrutinize these mergers and maintain a competitive market that favors the consumer.