CAT 2020 Slot 3 — VARC Question 22

The four sentences (labelled 1, 2, 3, 4) below, when properly sequenced would yield a coherent paragraph. Decide on the proper sequencing of the order of the sentences and key in the sequence of the four numbers as your answer:

1. It advocated a conservative approach to antitrust enforcement that espouses faith in efficient markets and voiced suspicion regarding the merits of judicial intervention to correct anticompetitive practices.

2. Many industries have consistently gained market share, the lion’s share – without any official concern; the most successful technology companies have grown into veritable titans, on the premise that they advance ‘public interest’.

3. That the new anticompetitive risks posed by tech giants like Google, Facebook, and Amazon, necessitate new legal solutions could be attributed to the dearth of enforcement actions against monopolies and the few cases challenging mergers in the USA.

4. The criterion of ‘consumer welfare standard’ and the principle that antitrust law should serve consumer interests and that it should protect competition rather than individual competitors was an antitrust law introduced by, and named after, the 'Chicago school'.