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activities agencies agreement airline Alcoa allocation allowed AT&T benefits capacity capital Chapter charged collusion compete competitors concentration ratio conglomerate mergers considered consumers customers decision demand curve deregulation determined discussed earn economic profits effect efficiency electric utilities equipment evaluating example Federal Trade Commission Figure firm's franchise geographic market Herfindahl index impact important incentive increase industry interest involved large firms legislation less manufacturers marginal cost market power market share market structure ment million monopolist monopoly natural gas operations output patent percent perfect competition period pollution potential practices predatory pricing price discrimination price fixing price leadership problem product market purchase railroads reduced regulated firm regulatory commissions resale price maintenance result retail revenues rule-of-reason safety Section sellers Sherman Act standard substantial suit suppliers supply Supreme Court telecommunications telephone companies tion U.S. Steel United users violation