Antitrust laws also known as competition laws are regulations that protect consumers from unethical business practices in the United States. Apart from consumer protection, antitrust laws also ensure that there is fair competition in an open-market economy, these regulations have suitably adapted with the changing market forces managing the monopolies and disruptions efficiently in the marketplace (Blair & Kaserman, 2009). Further, these laws apply to a wide array of dubious business practices such as price fixing and bids engineering. An absence of these regulations would result in unfair competition in the market whereby monopolies would dominate limiting chances of new entrants in the market. Secondly, consumers will not profit from a variety of full products in the market, and this would result in higher prices for the few goods that are available in the market. Today the antitrust laws affect our economy diversely, mergers and acquisitions happen because of these regulations, these are efforts to limit giant companies in the market.
Blair, R. D., & Kaserman, D. L. (2009). Antitrust economics. OUP Catalogue