/n4. Plesae write a response in 150 words. The purpose of antitrust laws is to create a level playing in the market by defining the parameters of what is an unlawful organization. It protects consumers from rising prices, low quality products, reduced competition, and diminished innovation. Furthermore, the antitrust laws also protect the market from monopolies and keeps the market level. For example, every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony punishable by a fine (McAdams, 2022). Competition is key to a functioning free market because it leads to lower price, higher quality goods, services, variety, and more innovation. Thus, creating a market that stimulates jobs, improves working conditions, and increases compensation. The reverse would happen if there were less competition. For example, dominant firms can use their market power to charge higher prices, offer decreased quality, and block potential competitors from entering the market-meaning entrepreneurs and small businesses cannot participate on a level playing field and new ideas cannot become new goods and services (Boushey & Knudsen, 2021). A level market plays an integral role in a capitalistic system because the economic system is based on private enterprise and their ability to create competitive markets to create supply and demand. Reference Boushey, H., & Knudsen, H. (2021, July 9). The Importance of Competition for the American Economy. https://www.whitehouse.gov. https://www.whitehouse.gov/cea/written-materials/2021/07/09/the- importance-of-competition-for-the-american-economy/ McAdams, T. et al. (2022). Law, business, and Society. New York, NY: McGraw-Hill Education

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