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Exam 47: Antitrust Law

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Question 1

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If a company possesses market power and either unfairly achieved this market power or uses this market power for abuse, it can be said to have

A) vertically restrained efficiency
B) monopolized
C) established a monopoly
D) engaged in price fixing
E) engaged in bid rigging

F) A) and B)
G) A) and C)

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Question 2

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Please list what constitutes a violation of

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In order to constitute a violation of

Question 3

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The Sherman Act attempts to stop trusts from unfairly restricting market competition and prohibits banks from loaning money to those who violate the Act.

When a company merges with another company to produce a related product in order to add the related product to the company's production, it results in which of the following types of conglomerate merger?

Which entity is responsible for identifying specific behaviors were prohibited under the Sherman Act?

The Clayton Act was enacted to exempt specific business practices from prosecution for antitrust violations.

In what year was the Clayton act enacted?

Antitrust laws prohibit farmers from belonging to cooperatives that set prices.

When was the Interstate Commerce Act passed?

When a court defines a relevant market for purposes of determining if a company has a monopoly, what does the court consider?

Which of the following is false regarding private enforcement of antitrust laws?

The Federal Trade Commission has been eliminated.

The two largest competitors in the smart television market have been accused of making an agreement to divide the country in half, where Company A will only sell in the western half of the country, and Company B will only sell in the Eastern half of the country. If proven to be true, this would be an example of a(n)

Offers to sell the same goods to competing buyers at different prices that are never completed would not be considered price discrimination.

[On the Town] Mateo began taking people on tours of historic sites in his town. This had not been done before because no one thought the town contained much in the way of historical significance. Mateo, however, did some research and, with a very active imagination on his part, came up with some good stories. He started to make a nice profit with the tours, particularly with tourists passing through the town on the way to the mountains. Mateo began hearing of rival tour groups that were planning to start giving tours in the area. Mateo sent a memo to his secretary asking, "How can we shut down other potential tour groups in order to keep all the business?" One rival company started operations, but Mateo still had 85 percent of the business. He planned to run the rival out of business and prevent the start-up of any other tour operations in his town. Mateo offered to do a free advertising brochure for any business that would put up a poster advertising his tour group and agree not to advertise, or mention in any way, any other tour group. Mateo was particularly successful in making that agreement with hotels and restaurants in his town due to his likeable personality. When Robyn, who ran a rival tour group, heard about Mateo's actions, she was furious and accused him of an antitrust violation because he was trying to keep all the tour business for himself. Mateo told Robyn she was crazy and that the only reason she had no business was that she focused her tours on dry historical fact and did not do research on romantic relationships in the area in order to "spice-up" her tours. He also told her that he was not a monopolist because he did not have all the business as evidenced by Robyn's own tour service. -What must be proven against Mateo in order to establish that he violated antitrust laws through conduct involving monopolization?

Which of the following is false regarding groups and activities that are exempt from antitrust law?

Through which clause was Congress able to pass the Sherman Act?

Which of the following is not an example of a horizontal restraint of trade?

Please list and describe the three specific types of injuries under the Robinson-Patman Act.

A trust is a business arrangement in which stock owners appoint beneficiaries and place their securities with trustees, who manage the company and pay a share of their earnings to the stockholders.