twentieth century, the national U.S. phone company was AT&T, and the company functioned as a regulated

monopoly. Think about the deregulation of the U.S. telecommunications industry that has occurred over the

last few decades. (This is not a research assignment, but a thought assignment based on what you have learned

in this chapter.)

8. What real-world changes made the deregulation possible?

9. What are some of the benefits of the deregulation?

10. What might some of the negatives of deregulation be?

Review Questions

11. What is a corporate merger? What is an acquisition?

12. What is the goal of antitrust policies?

13. How do we measure a four-firm concentration ratio? What does a high measure mean about the extent of

competition?

14. How do we measure a Herfindahl-Hirschman Index? What does a low measure mean about the extent of

competition?

15. Why can it be difficult to decide what a “market” is for purposes of measuring competition?
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