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The market shares (in percentage terms) for the 12 firms that comprise an industry are 15, 12, 11, 10, 8, 7, 7, 6, 6, 6, 6, and 6. The Herfindahl index is __________ and the fourfirm concentration ratio is __________. 

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If average total costs for a natural monopoly are declining where they intersect demand, and government regulators set the price equal to marginal cost, then the firm will 

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The Herfindahl index measures the 

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The stated purpose of antitrust law is to 

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If government regulators want a natural monopolist to earn only zero economic profits, then they will set a price 

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The antitrust legislation that empowers the Federal Trade Commission to deal with false and deceptive acts or practices (such as false and deceptive advertising) is 

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If the fourfirm concentration ratio in an industry is 80 percent, and the top four firms hold equal market shares, the Herfindahl index for the industry is 

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If company A and B combine under single ownership of control, this would be a __________ merger. 

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A local government prevents any firm from competing with a natural monopoly firm. Those people who believe this is a wise policy action would likely say 

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The Herfindahl index measures the 

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"Exclusive dealing" refers to 

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In 1966, the Supreme Court ruled against the merger of Von's Grocery Co. and Shopping Bag Food Stores, stating that the merger between the companies violated the 

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The act which empowered the Federal Trade Commission to deal with false and deceptive acts or practices was the 

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If there are six firms in an industry and the market shares of the firms are 33 percent, 31 percent, 14 percent, 12 percent, 6 percent and 4 percent, the Herfindahl index is 

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The Herfindahl index is obtained by 

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The problem with a monopoly is that a monopoly 

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"Exclusive dealing" is 

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Exhibit 265 

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Exhibit 2640 Refer to Exhibit 264. What is the productiveefficient level of output?


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Exhibit 262


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