Slide 8

Products are distributed on a line segment. Product 4 is to the extreme left. The lower bound of a broad product market definition (B subscript broad) occurs next. Then, the lower bound of a narrow product market definition (B subscript narrow) follows. Products 2 and 1 are then successively on the line. The upper bound of a narrow product market definition (B subscript narrow) follows. Next, product 3 is located on the line. Then, the upper bound of a broad product market definition (B subscript broad) is found followed by the location of product 5.

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Updated June 25, 2015

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