scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 3,383
The size of Wal-Mart is astounding It is not only the largest company in the world but in the history of the world It is also the largest retailer in the United States Mexico and Canada Because of its sheer size and impressive market power Wal-Mart has been the envy of competitors the bane of suppliers and a godsend to consumers Their efficiency gains and economies of scale enable them to charge lower prices than many of their competitors Because of this market power Wal-Mart is able to induce concessions from suppliers that want in on a piece of the action On the tail end customers may have mixed feelings about Wal-Mart but they do know that Wal-Mart is able to give them the goods they want at the cheapest price Wal-Marts ability to persuade its suppliers to furnish them with the lowest possible prices is a concern to some Antitrust law is the legal tool that the public and government have to combat anticompetitive business practices It is my intent to support the argument that Wal-Mart should indeed raise some legal eyebrows but whether or not they are guilty of antitrust violations remains to be seen To better understand the possible harms antitrust attempts to protect consumers from an explanation of relevant economic theory is warranted In order to make a distinction between harm and benefit it is imperative to understand the theory of monopoly monopsony and bilateral monopoly A monopoly occurs when there is one dominant seller in the market This seller faces a downward sloping demand curve ie the market demand curve The negative sloping of the demand curve means that in order to sell more products the firm must lower its price Thus the firms marginal revenue curve lies below the demand curve The upward slope of the marginal cost curve which symbolizes the added cost for producing one more unit intersects with both the marginal revenue and demand
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA