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The Clayton Antitrust Act (1914) amends and adds to U.S. antitrust law by prohibiting specific types of conduct, such as price discrimination and exclusive sale contracts. Example: Predatory pricing to drive out competitors is prohibited under this act.

Market division is an illegal practice where competitors agree to not compete with each other in specific markets or territories. Example: Two companies might agree that one will operate only in the East Coast while the other takes the West Coast.

Resale price maintenance occurs when a manufacturer controls the retail price of its product by establishing a minimum or fixed selling price. Example: A luxury good manufacturer might dictate the lowest price retailers can sell its products.

A group boycott, also known as concerted refusal to deal, is when competitors agree to not do business with a particular person or company. Example: A group of retailers may refuse to sell products from a supplier to push for lower wholesale prices.

Market concentration refers to the extent to which a small number of firms dominate a market, often measured by the Herfindahl-Hirschman Index (HHI). Example: A market with two firms each having a 50% share would have a high concentration.

A natural monopoly occurs when a market's characteristics lead to a single firm being the most efficient in satisfying demand due to economies of scale. Example: Utility companies often operate as natural monopolies because the infrastructure costs are prohibitive for competitors.

Tying agreements involve the sale of one product to the condition of buying another product. Example: A software company might only sell a popular program if the buyer also purchases a less desirable software package.

In antitrust law, per se illegality refers to practices that are considered inherently illegal, regardless of any actual harm or intention. Example: Courts may rule that horizontal price fixing between competitors is per se illegal without considering its effect on the market.

Price fixing occurs when business competitors agree to set their prices or other terms at a certain level instead of competing with each other. Example: Two competing airlines might agree to keep their ticket prices at a minimum level.

The Celler-Kefauver Act (1950) expanded the Clayton Act's reach by covering asset purchases and acquisitions that could reduce competition. Example: The Act might prevent a company from buying key assets of a rival to reduce competition.

A monopoly is a market structure where a single firm or entity controls a significant portion of the market, often resulting in higher prices and reduced innovation. Example: A tech company becomes the only provider of a certain software used by most businesses.

Horizontal integration occurs when a company expands its business into different geographic locations or increases its product range within the same industry. Example: A coffee shop chain acquiring another chain to expand its market presence.

The Sherman Antitrust Act (1890) is a landmark federal statute in the field of competition law which prohibits monopolistic practices and cartels. Example: The U.S. government used it to break up Standard Oil into smaller companies.

The Robinson-Patman Act (1936) specifically outlaws price discrimination when it has the potential to harm competition. Example: A supplier cannot sell the same product to similar buyers at different prices without justification.

The HSR Act (1976) requires companies to file with the FTC and Department of Justice before completing mergers, acquisitions, or other transactions that meet certain thresholds to allow for review and potential challenge. Example: Large company mergers may be halted if they significantly reduce market competition.

Bid rigging is a form of fraud in which competing parties conspire to determine the winner of a bidding process. Example: Construction firms might collude to allocate certain municipal projects among themselves.

The U.S. Horizontal Merger Guidelines are issued by the FTC and the Department of Justice to evaluate potential mergers and acquisitions for antitrust concerns. Example: Authorities use these guidelines to determine if a merger between two competitors would negatively affect the market.

The FTC Act (1914) established the Federal Trade Commission intended to protect consumers and to ensure a strong, competitive market by enforcing antitrust laws. Example: The FTC may challenge anti-competitive mergers.

Barriers to entry are obstacles that prevent new competitors from easily entering an industry or area of business. Example: High capital requirements or strict regulation can be barriers that protect existing companies from new competition.

The essential facility doctrine forbids the owner of a facility that is essential for competitors from denying access to the facility when it is not possible to reasonably duplicate it. Example: A major railroad company cannot deny competitors access to its tracks if there are no practical alternative routes.

Predatory pricing is the practice of setting prices low with the intent to eliminate competition, and then raising prices once competitors have been driven out. Example: A large retailer may temporarily slash prices below cost to drive out small local competitors.

Exclusive dealing happens when a supplier requires a retailer to only purchase or sell its products, excluding the products of competitors. Example: A beverage supplier might require a convenience store to only carry its brand of drinks.

The rule of reason is a legal doctrine under antitrust law used to determine if a business practice is restrictive of free trade or commerce. Example: Courts may use this rule to assess if non-compete agreements between businesses are necessary for a legitimate business purpose.

The HHI is a measure of market concentration and is calculated by squaring the market share of each firm competing in the market and then summing the resulting numbers. Example: In a market with four firms with equal share, the HHI would be 2,500 ($4 \times (25^2)$).