****JUST LIST A BASIC ANSWER, DONT GO TOO INTO DETAIL***

1. Both antitrust policy and industrial regulation deal with monopoly. What distinguishes the two approaches? How does government decide to use one form of remedy rather than the other?
2. Outline the two major provisions of each of the following: Sherman Act, Clayton Act,, Wheeler-Lea Act, and Celler-Kefauver Act.
3. What was the importance of the Federal Trade Commission Act of 1914.Room # 1, 2, 3
4. .Distinguish between three types of merger. Give real world examples.
5. Suppose a proposed merger of firms will simultaneously lessen competition and reduce unit costs through economies of scale. Do you think such a merger should be allowed? Explain.
6. How would you expect antitrust authorities to react to the following?

• a proposed merger of Ford and General Motors.
• evidence of secret meetings by contractors to rig bids for highway construction projects.
• a proposed merger of a large shoe manufacturer and a chain of retail shoe stores;
• a proposed merger of a small life insurance company and a regional candy manufacturer; and
• an automobile rental firm that charges higher rates for last-minute rentals than for rentals reserved weeks in advance.

1. Defineprice fixing,price discrimination,andtying contracts, and explain which are strictly prohibited, which are permitted, and why.
2. Explain the difference betweenindustrial regulationandsocial regulation.
3. Discuss the major arguments for and against social regulation.
4. Identify the options that government might use when a natural monopoly exists