ILSA Journal of International & Comparative Law


Pedro M. Mufoz


Of course I know, and every other sensible man knows, that the Sherman law is damned nonsense, but if my country wants to go to hell, I am here to help it.

Justice Oliver Wendell Holmes, Jr.

In the model of perfect competition, the market is so populated by sellers and buyers that no one individual can influence the market price through' the manipulation of input or output. "All relevant prices are known to each producer, who also knows of all input combinations technically capable of producing any specific combination of outputs and who makes input-output decisions solely to maximize profits."'