What has happened to consumer surplus in the market

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1. Apex Manufacturing charges Zenith Manufacturing with predatory pricing (that is, selling below cost) What do you think anti-trust authorities will want to consider before they determine whether prosecute Zenith for unfair practices in restraint of trade?

2. What is so bad about Price Fixing? Why does the government prohibit it?

3. In a 1956 antitrust case against DuPont, the Justice Department argued that the firm held a near monopoly in the cellophane market. Dupont argued that the definition of the market should be changed to include all wrapping paper. Why is this issue of market definition important? (DuPont's position prevailed).

4. The deregulation of the airline industry has generally led to lower fares and increased quantities produced. Use the model of demand and supply (no diagrams required- just verbal explanations) to show this change. What has happened to CONSUMER SURPLUS in the market?

Reference no: EM131159651

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