Case Monopoly power and competition policy We have seen that a
monopoly creates a social loss compared to a perfectly competitive
market. If it is possible to increase the level of competition in a
monopolized market, then society is better off since social surplus
increases. Competition policy (also known as antitrust policy)
deals with markets where competition can arise; however, given the
behaviour of some firms in those markets, competition is
restricted. There are markets in which increasing the level...