Smalltown Has Two Family-Owned Hardware Stores That Have Been in Business

question 10

Essay

Smalltown has two family-owned hardware stores that have been in business for years.Major Hardware decides that Smalltown would be a good place to build one of its superstores.Major opens,advertising unbelievably low prices;in fact,at below cost.Because Major owns stores nationally,it is able to keep prices extremely low until both of the family-owned stores have to go out of business because they cannot compete.After Major is the only hardware store in town,it raises its prices enough to make up for its former losses and to make some additional profit.Discuss this behavior in relation to antitrust law.

---

Definitions:

Clinical Expertise

The advanced judgment and skill acquired by a health professional through education and experience.

Business Sense

The ability to understand and make good judgments in the context of business, such as financial management, marketing, and strategic planning.

Leadership Skills

A set of abilities that enable an individual to guide, direct, or influence the work of others effectively.

Good Followers

Individuals who actively support and follow the guidance and direction of a leader while contributing positively to the achievement of a group's goals.