Chapter 12 or 25. ovemment and Product Markets: Pie-Class Er ln-Blaas Activity Questions Hanni'llt. Number: Section: Date: Pat 3 . Discussion Questions and Problems 1. Why was the Robinson-Paunantlmt passed? The Wheeler-Leaet? The Geller-KefauverAntimergerM? 2. What is one difference between the four-lino concentration ratio and the Hertindahl index? 3. How does a vertical merger differ from a horizontal merger? Why would the government tool: more carefully atone than at the other?r it. Explain prioe regulation, prot regulation, and output regulation. 5. What is the major difference bemoan the captuetheory of regulation and the pubic interest theory of regulation\":r 6. What is the inplication otsaying that regulation is likely to affect incentives?r i'. [iterates the advantages and disadvantages of regulation {as you see it]. a. It is usually asserted that pililic utilities such as electric companies and gas companies are natural monopolies, but an assertion is not proof. How would you go about trying to prove {or disprove} that electric companies and the like are {or are not] natural monopolies? {Hint Consider oormartng theATI: of a public utility that serves many customers with the ATE: ot a public utility that serves relatively favr customers}