1. Under what circumstances would Mom's Tools & Hardware, a small store in the middle of Nowhere, a small, isolated town, be considered a monopoly? If Mom's is a monopoly, is it in violation of antitrust law?
2. Syntech Corporation makes computers. Total Digital, Inc., is a chain of retail computer stores. Syntech and Total Digital merge. Syntech is the surviving entity. What factors determine whether this merger is illegal under the Clayton Act?
3. Jean leaves her prom dress with Kwik 'n Kleen Launderers to be cleaned and altered for the dance. On its return, the dress is greasy and smells bad, and the alterations burst at the seams. Who suffers the loss and why?
4. Patty, who is divorced, owns a house. She has no reasonable expectation of benefit from the life of Quinn, her ex-spouse, but she applies for insurance on his life anyway. She also obtains a fire insurance policy on the house, which she later sells. Five years later, Quinn dies and the house is destroyed in a fire. Can Patty obtain payment on either the death of Quinn or the loss of the house? Explain.