Exam 21: Antitrust Policy and Regulation

If a market is defined more broadly, then the chances that firms in that market will be found to be violating antitrust laws based on having a monopoly structure will increase.

A major shortcoming of the Sherman Act was that

Overall, economists believe that deregulation of industries formerly subjected to industrial regulation

The Occupational Safety and Health Administration is mainly involved in

The largest efficiency gains from deregulation have occurred in the

All of the following can file antitrust charges under the Sherman Act except

Where there is natural monopoly, government is most likely to implement

A caption that could serve as a retort to opponents of social regulation would be

The decision on the DuPont cellophane case of 1956 dealt with the issue of

What development in the 1970s and 1980s is considered one of the most extensive experiments in industrial policy in the last half-century?

If the government regulates a natural monopoly and sets a "fair return" pricing policy, then the regulated firm will have greater incentive to improve its operating efficiency.

Why are horizontal mergers more likely to be opposed than vertical and conglomerate mergers?

A market in which the entire demand for a good or service can be satisfied at the least cost by a single firm is a

The table shows market shares of firms in hypothetical industries. Assume these are distinct industries with no buyer-seller relationships or competition among them. The industry with the greatest market power as measured by the Herfindahl index is

Which theory of regulation assumes that the industry wants to be regulated, in order to reduce competition and achieve cartel-like conditions?

What are four criticisms of social regulation?

One main difference in the rulings on the 1945 Alcoa case and the 1956 DuPont cellophane case is that the Alcoa case

Supporters of social regulation contend that it has provided net benefits to society in the form of greater safety, a better environment, and less discrimination.

Responsibility for enforcing the antitrust laws rests

The administrative agency charged with enforcing the provisions of the Clayton Act (1914)was established by additional legislation in the same year. This legislation was the