Question 1

Like horizontal agreements, the per se rule also applies to vertical agreements which merely affect prices.

Accepted Answer

A) True 
 B)False

Question 2

The new Chinese antimonopoly law enacted in August 2007:

Accepted Answer

A)  is the first antitrust law in South East Asia. 
B)  regulates the concentration of undertakings. 
C)  promotes a healthy capitalist market economy. 
D)  imposes criminal liability against violators. 
A)  is the first antitrust law in South East Asia. 
B)  regulates the concentration of undertakings. 
C)  promotes a healthy capitalist market economy. 
D)  imposes criminal liability against violators.

Question 3

In either an upstream or downstream merger:

Accepted Answer

A)  the ownership of the competitors change. 
B)  the number of competitors increase. 
C)  the market share of the purchaser decreases. 
D)  the anticompetitive effects are not apparent. 
A)  the ownership of the competitors change. 
B)  the number of competitors increase. 
C)  the market share of the purchaser decreases. 
D)  the anticompetitive effects are not apparent.

Question 4

In order to establish a per se violation alleging tying,

Accepted Answer

A)  there must be two products. 
B)  there must be power in the tied product market. 
C)  the power in the tied product must be used to eliminate competition for the tying product. 
D)  there must be an insubstantial amount of commerce affected in the tied product market. 
A)  there must be two products. 
B)  there must be power in the tied product market. 
C)  the power in the tied product must be used to eliminate competition for the tying product. 
D)  there must be an insubstantial amount of commerce affected in the tied product market.

Question 5

Vertical boycott agreements occur when a seller agrees with some of its customers that it will not sell to another.

Accepted Answer

A) True 
 B)False

Question 6

The Federal Trade Commission has both criminal and civil jurisdiction.

Accepted Answer

A) True 
 B)False

Question 7

Monopolistic behavior includes:

Accepted Answer

A)  acquisition of competitors. 
B)  charging unreasonably high cost for products. 
C)  forming sports franchises. 
D)  making tying arrangements. 
A)  acquisition of competitors. 
B)  charging unreasonably high cost for products. 
C)  forming sports franchises. 
D)  making tying arrangements.

Question 8

What is entrenchment?

Accepted Answer

If a firm acquires another firm that is

Question 9

GenX Mobiles' most popular product is their 3G smart phone called "Sphinx." They recently launched a new series of MP3 players; but the product failed to garner the desired market share. GenX then decided to tie the sales of the MP3 player to "Sphinx". This marketing strategy used by GenX Mobiles would be a violation of the:

Accepted Answer

A)  Federal Trade Commission Act. 
B)  Robinson-Patman Act. 
C)  Clayton Act. 
D)  Sherman Antitrust Act. 
A)  Federal Trade Commission Act. 
B)  Robinson-Patman Act. 
C)  Clayton Act. 
D)  Sherman Antitrust Act.

Question 10

The retail gas market, where a small number of firms control a large majority of the market, is an example of a(an) _____.

Accepted Answer

A)  monopoly 
B)  oligopsony 
C)  monopsony 
D)  oligopoly 
A)  monopoly 
B)  oligopsony 
C)  monopsony 
D)  oligopoly

Question 11

Which of the following statements is true for price discrimination?

Accepted Answer

A)  The Robinson-Patman Act doesn't provide any defenses to price discrimination. 
B)  It is permitted on discounts or gifts given in connection with the sale of a product. 
C)  It refers to charging different prices to buyers of the same product at different times. 
D)  It is a violation under section 2 of the Robinson-Patman Act. 
A)  The Robinson-Patman Act doesn't provide any defenses to price discrimination. 
B)  It is permitted on discounts or gifts given in connection with the sale of a product. 
C)  It refers to charging different prices to buyers of the same product at different times. 
D)  It is a violation under section 2 of the Robinson-Patman Act.

Question 12

What are per se violations? Give two examples.

Accepted Answer

When conduct is alleged to be anticompet

Question 13

Which of the following statements is true for cartels?

Accepted Answer

A)  Their purpose is to try to control prices through control of the output. 
B)  They are prohibited under §2 of the Sherman Act. 
C)  They are most successful when they have a large number of members. 
D)  They are a way to attain vertical price fixing. 
A)  Their purpose is to try to control prices through control of the output. 
B)  They are prohibited under §2 of the Sherman Act. 
C)  They are most successful when they have a large number of members. 
D)  They are a way to attain vertical price fixing.

Question 14

Section 2 of the _____ was enforceable against unjustified discounts offered to buyers for the sole purpose of running other suppliers out of the market.

Accepted Answer

A)  Federal Trade Commission Act 
B)  Robinson-Patman Act 
C)  Clayton Act 
D)  Sherman Antitrust Act 
A)  Federal Trade Commission Act 
B)  Robinson-Patman Act 
C)  Clayton Act 
D)  Sherman Antitrust Act

Question 15

Failure to notify the DOJ of the intent to merge can hold companies liable under the Hart-Scott-Rodino Act of 1976.

Accepted Answer

A) True 
 B)False

Question 16

The U.S. basketball leagues are exempt from antitrust laws.

Accepted Answer

A) True 
 B)False

Question 17

Monopsony power falls within §2 of the Sherman Act and has been examined in courts much like monopoly power.

Accepted Answer

A) True 
 B)False

Question 18

An oligopoly:

Accepted Answer

A)  includes only one company that exerts control over most of the market. 
B)  comprises of a large number of competitors who own the market. 
C)  includes only one large buyer dominating a particular market. 
D)  comes under Section 1 of the Sherman Act. 
A)  includes only one company that exerts control over most of the market. 
B)  comprises of a large number of competitors who own the market. 
C)  includes only one large buyer dominating a particular market. 
D)  comes under Section 1 of the Sherman Act.

Question 19

Failure to comply with the antitrust laws and regulations can result in:

Accepted Answer

A)  improved product quality. 
B)  increased competition for consumers. 
C)  liability for the businesses. 
D)  lower prices. 
A)  improved product quality. 
B)  increased competition for consumers. 
C)  liability for the businesses. 
D)  lower prices.

Question 20

Distinguish between a monopoly and a monopsony.

Accepted Answer

The concept of monopoly refers to the po

Like horizontal agreements, the per se rule also applies to vertical agreements which merely affect prices.

The new Chinese antimonopoly law enacted in August 2007:

In either an upstream or downstream merger:

In order to establish a per se violation alleging tying,

Vertical boycott agreements occur when a seller agrees with some of its customers that it will not sell to another.

The Federal Trade Commission has both criminal and civil jurisdiction.

Monopolistic behavior includes:

What is entrenchment?

The retail gas market, where a small number of firms control a large majority of the market, is an example of a(an) _____.

Which of the following statements is true for price discrimination?

What are per se violations? Give two examples.

Which of the following statements is true for cartels?

Section 2 of the _____ was enforceable against unjustified discounts offered to buyers for the sole purpose of running other suppliers out of the market.

Failure to notify the DOJ of the intent to merge can hold companies liable under the Hart-Scott-Rodino Act of 1976.

The U.S. basketball leagues are exempt from antitrust laws.

Monopsony power falls within §2 of the Sherman Act and has been examined in courts much like monopoly power.

An oligopoly:

Failure to comply with the antitrust laws and regulations can result in:

Distinguish between a monopoly and a monopsony.

Introduction to the Business and Ethics Environment in a Diverse Society

Alternative Dispute Resolution

The Court System and Legal Process

Administrative Law

Contracts and Sales

Torts

Property, Real and Personal

Business Crimes

Secured Transactions and Bankruptcy

Agency and Business Organizations

The Employment Relationship and Equal Employment Opportunity

Labor and Management Relations

Securities Regulation and Compliance

Intellectual Property

Environmental Law and Business

International Law and Business

Filters

Exam 14: Antitrust and Trade Regulation

Like horizontal agreements, the per se rule also applies to vertical agreements which merely affect prices.

The new Chinese antimonopoly law enacted in August 2007:

In either an upstream or downstream merger:

In order to establish a per se violation alleging tying,

Vertical boycott agreements occur when a seller agrees with some of its customers that it will not sell to another.

The Federal Trade Commission has both criminal and civil jurisdiction.

Monopolistic behavior includes:

What is entrenchment?

The retail gas market, where a small number of firms control a large majority of the market, is an example of a(an) _____.

Which of the following statements is true for price discrimination?

What are per se violations? Give two examples.

Which of the following statements is true for cartels?

Section 2 of the _____ was enforceable against unjustified discounts offered to buyers for the sole purpose of running other suppliers out of the market.

Failure to notify the DOJ of the intent to merge can hold companies liable under the Hart-Scott-Rodino Act of 1976.

The U.S. basketball leagues are exempt from antitrust laws.

Monopsony power falls within §2 of the Sherman Act and has been examined in courts much like monopoly power.

An oligopoly:

Failure to comply with the antitrust laws and regulations can result in:

Distinguish between a monopoly and a monopsony.

Introduction to the Business and Ethics Environment in a Diverse Society

Alternative Dispute Resolution

The Court System and Legal Process

Administrative Law

Contracts and Sales

Torts

Property, Real and Personal

Business Crimes

Secured Transactions and Bankruptcy

Agency and Business Organizations

The Employment Relationship and Equal Employment Opportunity

Labor and Management Relations

Securities Regulation and Compliance

Intellectual Property

Environmental Law and Business

International Law and Business

Filters