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Market concentration and antitrust policy (20 points) a) Consider the Horizontal Merger Guidelines. What defines a highly concentrated market? Is there a presumption of harm from a horizontal merger in a highly concentrated market? What is the economic rationale behind this presumption or lack thereof? b) Consider the Vertical Merger Guidelines. Is there a presumption of harm from a vertical merger in a highly concentrated market? What is the economic rationale behind this presumption or lack thereof?
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