1. Provide an example of where inter-industry competition is an important source of competition for a firm.
2. Provide an example of where foreign competition is an important source of competition for a firm.
3. Provide an example of where contestable markets competition is an important source of competition for a firm.
4. Explain why an increase in competition usually helps improve market conditions in the U.S. economy.
5. Does the U.S. government have a responsibility to maintain competitive markets?Explain.
6. Which is better for a country economically, a multilateral free trade agreement including most countries, such as the WTO, or a regional trade agreement with one's neighboring countries, such as NAFTA? Explain.