market share of each firm in the industry

market share the percentage of total sales in the market

merger when two formerly separate firms combine to become a single firm

minimum resale price maintenance agreement an agreement that requires a dealer who buys from a

manufacturer to sell for at least a certain minimum price

price cap regulation when the regulator sets a price that a firm cannot exceed over the next few years

regulatory capture when the supposedly regulated firms end up playing a large role in setting the regulations

that they will follow and as a result, they “capture” the people usually through the promise of a job in that

“regulated” industry once their term in government has ended

restrictive practices practices that reduce competition but that do not involve outright agreements between

firms to raise prices or to reduce the quantity produced

tying sales a situation where a customer is allowed to buy one product only if the customer also buys another
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