An economics test tomorrow morning and these are all of the chapter questions I'm having trouble with.
1. How isfour-firm concentration ratio measured? What does a high measure mean about the extent of competition?
2. How is a Herfindahl-Hirschman Index measured? What does a low measure mean about the extent of competition?
3. Why can it be difficult to decidewhat a "market" is for purposes of measuring competition?
4. What is a minimum resale price maintenance agreement? How might it reduce competition, and when might it be acceptable?
5. What is exclusive dealing? How might it reduce competition, and when might it be acceptable?
6. What is a tie-in sale? How might it reduce competition, and when might it be acceptable?
7. What is predatory pricing? How might it reduce competition, and why might it be difficult to tell when it should be illegal?
8. If public utilities are a natural monopoly, what would be the danger in deregulating them?
9. If public utilities are a natural monopoly, what would be the danger in splitting them up into a number of separate competing firms?
10. What is price-cap regulation?
11. What is regulatory capture?
12. Why does regulatory capture reduce the persuasiveness of the case for regulating industries for the benefit of consumers?
13.Who owns a privatized firm?