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COMPETITION THEORY AND
A Criticism of Neoclassical Competition
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advertising Alcoa alleged allocation aluminum American Tobacco antitrust laws antitrust policy argued bleach industry Borden brand buyers Caffey cents charge Clayton Act Clorox collusion commerce compete competitive process competitors concentration concerning conglomerate mergers conspiracy consumers contracts corporations Court decision criticism discounts District Court economic economists effect efficient electrical emphasis added entry existing fact Federal Trade Commission firms free market Harold Demsetz Ibid illegal increase independent ingot Judge Justice leased machines manufacturers market power market share ment merger misallocation monopoly power neoclassical nomic output percent perfectly competitive perspective petroleum potential prefabricated homes price discrimination price-fixing Procter product differentiation profits purchase railroad rates reason reduce refiners regulation restrain restrict retail Robinson-Patman Act salt sellers selling Senator Kefauver Sherman Act Shoe Machinery social sold Standard Oil substantial Supreme Court tend theory tion tying agreements U. S. Steel United Shoe violated welfare York