Does someone can paraphasing it And attach answer in the fil

Does someone can paraphasing it? And attach answer in the file please.

Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies.  

This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.

The Sherman Act also makes it a crime to monopolize any part of interstate commerce. An unlawful monopoly exists when one firm controls the market for a product or service, and it has obtained that market power, not because its product or service is superior to others, but by suppressing competition with anticompetitive conduct.

The Clayton Act is a civil statute (carrying no criminal penalties) that prohibits mergers or acquisitions that are likely to lessen competition. Under this Act, the Government challenges those mergers that are likely to increase prices to consumers. All persons considering a merger or acquisition above a certain size must notify both the Antitrust Division and the Federal Trade Commission. The Act also prohibits other business practices that may harm competition under certain circumstances

An amendment passed by the U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890.The Clayton Antitrust Act attempts to prohibit certain actions that lead to anti-competitiveness.

Effect of R&D on Tobin’s q

The pioneering work of Nobel laureate James Tobin, established the idea of using the difference between the market value of the firm and accounting book value as an indicator of market power and valuable intangible assets. Tobin introduced that term q, is the ratio of the market value of the company divided by the replacement cost of tangible assets. Q should be close to 1, when a competitive firm in a stable industry with to special capabilities with no barriers to entry or exit.

According to Tobin’s rule, in a perfectly competitive industry, for Q becomes more than 1, should be quickly erased by entry or established company growth. Q<1 due to unexpected fall in demand or increase in costs, would be erased by exit or contraction among established firms.

Companies that is regulated so as to earn no monopoly rents would also have Q close to 1. Only in the case of companies with monopoly powers protected by significant barriers to entry or exit, or companies with superior profit making capabilities, will produce different results.

Solution

Sharman Antitrust Act1890- It prohibits certain business activities that Federal Govt Regulators Deem to be anti-competitive . It has since more broadly been used to oppose the combination of entities that could potentially harm competition ,Such as Monopolies.

It was not intended to impact market gains obtained by honest means, by benefiting the consumers, more than the competition . This act said \" A person who merly by superior skill and intelligence..got the work business because nobody could do it as well he could not monopolistic .It involved something like the use of means which made it impossible for other persons to engage in fair competition.

The Clayton Act- It was passed by US Congress as an amendment to clarify and supplement the Sherman Antitrust Act. The act prohibitited exclusive sales ,contracts,local price cutting to freez out competitors rabtes interlocking directorates in corporate copitalized at $ 1 million or more in the same field of business and intercorporate stock holding.

The act restricted the use of the injunction against labor and it legalised peacful strikes, pickeling and boycotts.

The act was the basis for a great many important and much publicized suits against large corporations,later amendments to the act strenghned its provisions against unfair price cutting (1936) and intercorporate stock holding(1950)

James Tobin was American Economist who served in the council of economc advisers and board of Goveroner and tought at Havard and Yale universities.He developed the ideas of Keynesian Economics and advocated Government intervation to stabilize output and avoid recession.His Idea was totaly against of Sherman Antitrust Act1890 And The Clayton Act .which was supported Monopoly Market.