What are the Implications of Holding a Dominant Position?
Holding a dominant position comes with both advantages and responsibilities:
Competitive Edge: Firms can leverage their dominance to maintain a competitive advantage. Regulatory Scrutiny: Dominant firms are closely watched by regulatory bodies to prevent monopolistic practices. Market Influence: The ability to set industry standards and influence market conditions. Ethical Considerations: Firms must ensure they do not exploit their position to the detriment of competitors and consumers.