When considering the legality of a horizontal merger, U.S. antitrust agencies tend to emphasize the importance of consumer surplus rather than total surplus.

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U.S. antitrust agencies tend to focus on the impact of a horizontal merger on consumer welfare, which is typically measured by consumer surplus. While total surplus (including producer surplus) is also considered, consumer surplus is often given greater weight in antitrust analysis.

When Considering the Legality of a Horizontal Merger, U