Updated "Example" boxes cover timely topics including the conflicts of interest between managers and shareholders, FTC opposition to Internet bans that harm competition, monopoly power by the Catholic Church in hiring priests, China's tobacco monopoly, Canadian drug sales, Blockbuster's pricing, and more. New section on Professor Sutton's groundbreaking theoretical and empirical research into determinants of concentration (why some markets have only a few firms, each with a large market share). Updated Chapter 5 on cartels offers enhanced coverage of international cartels. New material in Chapter 7 on estimating differentiated goods models. MyEconLab not included. Students, if MyEconLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyEconLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.