Microeconomics (10-17)

made it illegal to monopolize a market or to engage in practices that result in a restraint of trade

outlawed specific practices that discourage competition, including tie in sales, contracts, price discrimination for the purpose of reducing competition, and stock purchase mergers that would substantially reduce competition

created a mechanism to enforce antitrust laws

prohibited selling products at "unreasonably low prices" with the intent of reducing competition

outlawed asset purchase mergers that would substantially reduce competition

extended antitrust legislation to proprietorships and partnerships

choosing the lower price for life

strategy where a firm responds to underpricing by choosing a price so low that each firm makes zero economic profit

strategy where one firm chooses whatever price the other firm chose in the preceding period