As far as I understand, antitrust laws prevent a monopoly. What I don’t understand is why is there a law against this? If your product is successful enough that everyone wants it/needs it, why is that a bad thing?
I searched for an answer to this, but the questions are more specific. In this question, since I don’t know about the concept, I’d like to know why such law is a thing.
In: Economics
Antitrust laws prevent unfair monopolies. If your product is the best, then that’s fine. But if you buy out and shut down your competitors, or artificially drop prices to bankrupt competitors, or tiger wise exert positions of power to unfairly manipulate a free market, then antitrust laws apply.
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