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Why can it be difficult to decide what a market is for purposes of measuring competition? Why does regulatory capture reduce the persuasiveness of the
- Why can it be difficult to decide what a "market" is for purposes of measuring competition?
- Why does regulatory capture reduce the persuasiveness of the case for regulating industries for the benefit of consumers?
- What would be evidence of serious competition between firms in an industry? Can you identify two highly competitive industries?
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