1. Substantial coordination issues can arise in an industry that requires a meeting of the firms in the industry to resolve. For example, many years ago, at the inception of the use of incandescent light bulbs, a meeting of producers would have been sensible to establish an industry-wide standard for the threading on the base of light bulbs. Nevertheless, when the firms of an industry gather to discuss such coordination issues it can be the case that the discussion moves toward agreements regarding the suppression of interfirm rivalry. In the incandescent light bulb example, there may have been an additional industry-wide agreement about the maximal expected life of a light bulb.
   1. As an economist, what is the line between legitimate industry-wide coordination agreements and agreements regarding the suppression of interfirm rivalry?
   2. If an industry-wide coordination agreement has anti-competitive aspects to it, as an economist, how would you evaluate whether the overall outcome was pro-competitive or anti-competitive?