The cooperativity and feedback inhibition exhibited by the It is generally recognized that the homotropic and heterotropic effects exhibited by allosteric enzymes are attributable to ligand-promoted conformational changes whereby the proteins are converted from a constrained or low-affinity state to a relaxed form having a higher affinity for substrates (1, 2). Since these conformational changes are mediated by alterations in the subunit interactions, it is important to determine the strengths of the intersubunit bonding domains and their perturbation by ligands (3). Despite the evident need for such data, quantitative estimates of ligand effects are available for only a few proteins. Of these, hemoglobin has been studied most extensively. The dissociation constants for the tetramer-dimer equilibria have been evaluated for hemoglobin in both the oxy and deoxy states (4-9), and the changes in the intersubunit contact energies have been related to the functional properties of the protein (10, 11). In this paper we present an approach aimed at providing comparable information for the regulatory enzyme, aspartate transcarbamoylase (ATCase; carbamoyl- (20).Since the dissociation of ATCase into free subunits could not be measured directly, we initiated studies of subunit exchange as an alternative, sensitive approach for estimating the strengths of the intersubunit bonding domains. Very little exchange of either C or R subunits occurred even in the presence of the bisubstrate analog, N-(phosphonacetyl)-L-aspartate (PALA), which promotes the conformational transition of ATCase to the relaxed state (20,21). Studies were conducted, therefore, on the effect of this active-site ligand on the bonding domains in ATCase-like molecules lacking one R subunit (22)(23)(24)(25). This R-deficient species, designated C2R2, which exhibits both cooperativity and inhibition by CTP (22,23), is an intermediate in both the in vitro assembly of ATCase from subunits and the dissociation of the enzyme (24,26