Exam 33: Antitrust Law and Unfair Trade Practices

Restraints of trade that are unlawful under Section 1 of the Sherman Act if their anticompetitive effects outweigh their procompetitive effects are known as ________.

A merger between two or more companies that compete in the same business and geographical market is known as a ________.

Monopoly power is characterized by a(n)________.

Vertical mergers do not create an increase in a company's market share because the merging firms serve different markets.

The ________ is a federal statute that prohibits price discrimination in the sale of goods if certain requirements are met.

Courts have permitted two or more small companies to merge without liability under Section 7 of the Clayton Act if the merger allows them to compete more effectively with a large company.

The ________ is a federal statute,enacted in 1890,that makes certain restraints of trade and monopolistic acts illegal.

The Celler-Kefauver Act widened the scope of Section 7 of the Clayton Act to include asset acquisitions.

The Clayton Act is the only major antitrust act that includes criminal sanctions.

Agricultural cooperatives enjoy an implied exemption from antitrust laws.

Which of the following businesses and activities enjoy an implied exemption from antitrust laws?

A restraint of trade in which two or more competitors at one level of distribution agree not to deal with others at another level of distribution is known as ________.

With the help of examples,differentiate between statutory and implied exemptions from antitrust laws.

Which of the following is the only act that includes criminal sanctions for the usage of unfair trade practices?

Which of the following is an element of direct price discrimination that must be shown to prove a violation of Section 2(a)of the Robinson-Patman Act?

What elements of direct price discrimination must be shown in order to prove a violation of Section 2(a)of the Robinson-Patman Act?

The ________ is a federal statute,enacted in 1914,that regulates mergers and prohibits certain exclusive dealing arrangements.

Predatory pricing that is intended to drive out competition has been held to violate Section 2 of the Sherman Act.

A unilateral refusal to deal is a violation of Section 1 of the Sherman Act.

A group boycott occurs when two or more parties on different levels of distribution enter into a contract,combination,or conspiracy to restrain trade.