1. What is a monopoly? Why are monopolies outlawed? Explain fully. 2. Is WalMart a monopoly?...

1. What is a monopoly? Why are monopolies outlawed? Explain fully.

2. Is WalMart a monopoly? Explain.

3. There are federal laws which outlaw monopolies. What are they? When were they enacted?

4. If WalMart is a monopoly, why is the law not being applied?

5. The National Labor Relations Act of 1935 protected the rights of American workers to unionize without any interference from the employer. Discuss WalMart's approach to unions. Is it illegal? If so, why is the law not being enforced?

Solutions

Expert Solution

Monopoly :-

Monopoly means there is a single supplier of any product in the market.
supplier can be large or small.
full control over supply and market.
No close substitutes.
Barriers to entry.

keosha answered 2 hours ago

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