Monday, January 6, 2020
Egt Task 3 - 1291 Words
3 The numbers of firms that produce identical products or goods which are homogenous are called market structure. Industrial regulation is the government regulation on an entire industry with the objective of keeping a close eye on the industry prices and take advantage of consumers. Rules set by government and agencies that help control the operations of businesses who may demonstrate monopoly power in their organization. Monopoly may lead to consumers being exploited (higher prices) and consumers paying way too much for a product. Antitrust laws are federal and state government laws that regulate the conduct and organization or businesses. This helps promote fair competition for consumers. There are four main areas involving theâ⬠¦show more contentâ⬠¦Many utilities are monopolies by having the entire market share in certain areas. With deregulation of these utilities, the market becomes open to competition for market share to begin. In terms of regulation of monopoly, the g overnment attempts to prevent operations that are against the public interest, call anti-competitive practices. Likewise, oligopoly is a market condition where there are minimal distributors that have a major influence on prices and other market factors. This causes market failure, especially if evidence of collusive behavior by dominant businesses is found. There are three primary federal and state regulatory commissions that govern industrial regulation. They include the Federal Power Commission, the Federal Energy Regulation Commission, and the Natural Gas Act. The Federal Power Commission, which was created in 1930, allowed cabinet members to coordinate federal hydropower dams and navigable waters that the federal government owned. Years later, the FPC became The Federal Energy Regulation Commission. The FERC oversee the transmission of liquefied natural gas, while still overseeing electricity and hydroelectric projects. The Federal Energy Regulation Commission possess control o ver electricity, natural gas pricing, and oil pipeline and non-federal hydropower projects. It is made up of five commissioners that are approved by the President with approval from the Senate. In 1938, the Natural Gas ActShow MoreRelatedEgt1 Task 3751 Words à |à 4 PagesEGT-1 Task 3 Revised A. Summarize the four major pieces of legislation collectively known as the Antitrust laws. United States antitrust law is a collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The four major pieces of legislation known as the Antitrust Laws include: The Sherman Act, The Clayton Antitrust Act, The Federal Trade Commission, and the Celler-KefauverRead MoreEgt 1.11150 Words à |à 5 PagesEGT 1 Task 1 William Jarrod Reed Western Governors University Student ID: 000178779 Mentor: Aminah Abdul-Hakim Throughout this task I will do my best to explain how firms determined to maximize profit do just that. Specifically I will delineate how such firms choose the optimum level of production or output for the goods they produce and how they behave with respect to various elevations of marginal revenue. In my attempt it will be appropriate for me to clarify the definitionsRead MoreGreen Human Resource Practices : Barriers to implement Green HR Practices6100 Words à |à 25 PagesLecturer GIFT University Gujranwala (Research Paper) Acknowledgement We start this research project with the Holy name of ALLAH ALMIGHTY, who bestowed us the ability potential to accomplish this task also gave us the command on this subject, which is impossible without ALLAHââ¬â¢s blessings. Than we thank our parents who always gave us support our respectable teachers specially our most respectable worthy teachers Mr. ABID AWAN and Mr. HASSAN
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