Exam 13: Antitrust and Regulation

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Under the original Sherman Antitrust Act, violators were guilty of a misdemeanor.

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Exhibit 13-3 A monopolist Exhibit 13-3 A monopolist   -In Exhibit 13-3, if this industry is regulated and the regulatory commission wants revenue to just cover cost, the proper price and output combination to be set is: -In Exhibit 13-3, if this industry is regulated and the regulatory commission wants revenue to just cover cost, the proper price and output combination to be set is:

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Violations of the Sherman Antitrust Act have sometimes been punished by breaking up the offending firm into a number of smaller firms.

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Deregulation, especially for the transportation and telecommunication industries, was the trend in the United States during the:

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The Sherman Antitrust Act makes cartels illegal in the United States.

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A vertical merger occurs when:

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The Sherman Antitrust Act was an amendment to the Clayton Act.

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The rule of reason was applied in the:

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Interlocking directorates are illegal under the Clayton Act.

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During this century, court decisions on antitrust have:

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Campbell Soup agrees to sell its brand to a grocery chain only if the chain also agrees to buy a minimum number of cases of its V-8 juice. This is an example of:

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If a regulatory commission sets the regulated price equal to marginal cost for a natural monopoly:

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For which pair of firms would a merger be horizontal?

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"Good" trusts were exempt from antitrust prosecution under the:

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Under the Clayton Act,

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In the United States during the 1980s, there was a movement toward deregulation of industry.

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The government will have to subsidize a natural monopoly in the long run if regulators choose to pursue:

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The purchase of the assets of one steelmaker by another steelmaker might be a violation of the:

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Exhibit 13-2 Public utility monopolist Exhibit 13-2 Public utility monopolist   -As shown in Exhibit 13-2, an unregulated monopolist would operate at point: -As shown in Exhibit 13-2, an unregulated monopolist would operate at point:

(Multiple Choice)
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The Robinson-Patman Act strengthened the merger provisions of the Sherman Antitrust Act.

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