Economists and Congress frequently speak at such cross purposes in merger analysis that they might as well be speaking different languages. Economists typically analyze merger effects solely in terms of efficiency and tend not to consider final product price explicitly. I Congress, however, enacted the antimerger laws largely to prevent firms from using mergers to obtain greater market power, raise prices, and thereby acquire some consumer surplus from purchasers of the products. 2 Efficiency was a much lower priority for Congress; the most im
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