https://youtu.be/IcghGCBROR0

Watch this 11 min. Answer these questions.

1. What are the purposes of anti-trust laws?
2. Explain the rise of anti-trust laws in the late 19^th
3. How did anti-trust laws shift after WW1? (WW1 ended in 1918)
4. What does the documentary mean that anti-trust laws depend on politics more than any other area of law?
5. Why did anti-trust enforcement shift again after WWII? (This was the Peak Enforcement Era that culminated in the break-up of AT&T. At its height of power ATT&T controlled all phone service in U.S. You could not even own a private phone!)
6. What was the "consumer welfare standard" that changed anti-trust enforcement after AT&T?
7. Give examples from the video of increased market shares in different industries by 2019.

Use concepts like:

• Opportunity cost
• Supply and demand
• Advantages of competition (both allocative and productive efficiency)
• What determines a market power
• Characteristics of monopolies
• Disadvantages of monopolies
• How monopolies can be regulated
• Incentives