What are the key concepts of antitrust law?

Antitrust law is a body of law designed to promote competition and prevent anti-competitive practices in Delaware and other states. Competition is beneficial because it results in more choices for consumers, lower prices, better quality, and more innovations. The main principle of antitrust law is to protect the competitive process, which gives consumers the benefits of competition. Thus, antitrust laws generally seek to prohibit practices that limit or reduce competition, such as agreements between competitors to fix prices or allocate customers, and mergers that reduce competition in a given market. Antitrust law also prohibits certain types of exclusionary conduct by dominant firms, such as exclusive dealing, tying, and predatory pricing. Exclusive dealing is a practice whereby a dominant firm requires that its customers buy only its products, rather than those of its competitors. Tying is a practice whereby a dominant firm requires that customers buying one product must also buy a second product. Predatory pricing is a practice whereby a dominant firm sets prices so low that it prevents competitors from entering the market. Antitrust laws also prohibit certain forms of government action that limit or reduce competition. For example, many states have laws that forbid local governments from awarding exclusive franchises to firms in certain industries. Similarly, states may prohibit certain types of subsidies and tax incentives that benefit certain firms to the detriment of competitors. Overall, the key concepts of antitrust law are designed to promote competition and protect the competitive process, so that consumers get the benefits of competition.

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What are the key concepts of antitrust law?

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