Eco 100, please attachment for the assignment detail.
Apply the Principle: Monopoly Power Due Week 5 worth 60 points
By now you know that monopoly power occurs in most markets. You also know that in some cases, a regulated monopoly produces a better outcome than competition. Yet an inappropriate use of monopoly power is the basis for an anti-trust decision. The question remains: When does a firm have too much monopoly power?
In this “Apply the Principle,” you will have to decide if Google has too much monopoly power.
Read the following story about this topic: https://www.nytimes.com/2017/06/27/technology/eu- google-fine.html?mcubz=0
Answer the following questions:
1. Based on what you read, do you think Google is a harmful monopoly that should be subject to U.S. anti-trust action? Explain.
2. Do monopoly powers harm an economy? How so?
3. Why is some degree of monopoly power permitted?