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Chapter 11: Q 16 (page 272)
What is a minimum resale price maintenance agreement? How might it reduce competition and when might it be acceptable?
Restrictive practice to curb competition.
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What is a corporate merger? What is an acquisition?
Use the following information to answer the next three questions. In the years before wireless phones, when telephone technology required having a wire running to every home, it seemed plausible that telephone service had diminishing average costs and might require regulation like a natural monopoly. For most of the twentieth century, the national U.S. phone company was AT&T, and the company functioned as a regulated monopoly. Think about the deregulation of the U.S. telecommunications industry that has occurred over the last few decades. (This is not a research assignment, but a thought assignment based on what you have learned in this chapter.)
What might some of the negatives of deregulation be?
What is a tie-in sale? How might it reduce competition and when might it be acceptable?
Is it true that the four-firm concentration ratio puts more emphasis on one or two very large firms, while the Herfindahl-Hirshman Index puts more emphasis on all the firms in the entire market? Explain briefly.
How do we measure a Herfindahl-Hirshman Index? What does a low measure mean about the extent of competition?
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