Question 1

A vertical allocation of customers or territory is only illegal if competition to the markets as a whole is adversely affected.

Accepted Answer

A) True 
 B)False

Question 2

Possessing a monopoly is not per se unlawful.

Accepted Answer

A) True 
 B)False

Question 3

The Clayton Act was enacted in 1914 to plug the loopholes in the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 4

A consent decree is a judicial order entered into by defendants in lieu of litigating,in which they admit their guilt but agree to not carry on certain activities complained of.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is known as the "Typhoid Mary of Antitrust?"

Accepted Answer

A) The Norris-La Guardia Act 
B) The Wheeler-Lea Amendments 
C) The Wagner Act 
D) The Robinson-Patman Act 
E) The Taft-Hartley Act 
A) The Norris-La Guardia Act 
B) The Wheeler-Lea Amendments 
C) The Wagner Act 
D) The Robinson-Patman Act 
E) The Taft-Hartley Act

Question 6

Drafters of the Sherman Act based the act on a common-law policy against monopolies and other infringements on competition.

Accepted Answer

A) True 
 B)False

Question 7

Under the _____ a seller who deals with two or more retail customers but passes their orders on to a single wholesaler and sells the total quantity to the wholesaler in one transaction,can be held to have violated Section 2 of the Clayton Act.

Accepted Answer

A) parens patriae doctrine 
B) Parker immunity doctrine 
C) jus relictae doctrine 
D) indirect purchaser doctrine 
E) ultra vires doctrine 
A) parens patriae doctrine 
B) Parker immunity doctrine 
C) jus relictae doctrine 
D) indirect purchaser doctrine 
E) ultra vires doctrine

Question 8

The Robinson - Patman Act applies only to sale of commodities.

Accepted Answer

A) True 
 B)False

Question 9

B&T Inc.sells exclusively to Humdingers in North Dakota,and T&Y Inc.sells both to Humdingers and several other wholesalers.If T&Y Inc.cuts its prices to Humdingers while charging higher prices to the other wholesalers,B&T Inc.experiences an adverse effect.This adverse effect is an example of an)_____.

Accepted Answer

A) product diversification injury 
B) primary-line injury 
C) product differentiation injury 
D) product disparagement injury 
E) good-faith injury 
A) product diversification injury 
B) primary-line injury 
C) product differentiation injury 
D) product disparagement injury 
E) good-faith injury

Question 10

Which of the following should be the Supreme Court's preferred course of action,if it wants to determine the degree with which margarine can act as a substitute product for butter due to the latter's increase in prices?

Accepted Answer

A) The Supreme Court should encourage monopolistic competition between two primary margarine producers. 
B) The Supreme Court should determine the degree of the second-line injury between two margarine distributors. 
C) The Supreme Court should look at the cross-elasticity of demand between margarine and butter. 
D) The Supreme Court should look into alcohol and all its related beverage consumption patterns. 
E) The Supreme Court should determine the degree of the first-line injury between two butter producers. 
A) The Supreme Court should encourage monopolistic competition between two primary margarine producers. 
B) The Supreme Court should determine the degree of the second-line injury between two margarine distributors. 
C) The Supreme Court should look at the cross-elasticity of demand between margarine and butter. 
D) The Supreme Court should look into alcohol and all its related beverage consumption patterns. 
E) The Supreme Court should determine the degree of the first-line injury between two butter producers.

Question 11

The _____ dictates that the question of regulatory propriety must first be submitted to the regulating agency before the courts will rule on an antitrust question.

Accepted Answer

A) bird abatement doctrine 
B) Wheeler-Lea doctrine 
C) primary jurisdiction doctrine 
D) Hallstein doctrine 
E) Monroe doctrine 
A) bird abatement doctrine 
B) Wheeler-Lea doctrine 
C) primary jurisdiction doctrine 
D) Hallstein doctrine 
E) Monroe doctrine

Question 12

When is the failing company doctrine under Clayton Act applicable?

Accepted Answer

One defense to a Section 7 case is that

Exam 26: Antitrust Law

A vertical allocation of customers or territory is only illegal if competition to the markets as a whole is adversely affected.

Possessing a monopoly is not per se unlawful.

The Clayton Act was enacted in 1914 to plug the loopholes in the Sherman Act.

A consent decree is a judicial order entered into by defendants in lieu of litigating,in which they admit their guilt but agree to not carry on certain activities complained of.

Which of the following is known as the "Typhoid Mary of Antitrust?"

Drafters of the Sherman Act based the act on a common-law policy against monopolies and other infringements on competition.

Under the _____ a seller who deals with two or more retail customers but passes their orders on to a single wholesaler and sells the total quantity to the wholesaler in one transaction,can be held to have violated Section 2 of the Clayton Act.

The Robinson - Patman Act applies only to sale of commodities.

Which of the following should be the Supreme Court's preferred course of action,if it wants to determine the degree with which margarine can act as a substitute product for butter due to the latter's increase in prices?

The _____ dictates that the question of regulatory propriety must first be submitted to the regulating agency before the courts will rule on an antitrust question.

When is the failing company doctrine under Clayton Act applicable?

Introduction to Law and Legal Systems

Corporate Social Responsibility and Business Ethics

Courts and the Legal Process

Constitutional Law and Uscommerce

Administrative Law

Criminal Law

Introduction to Tort Law

Contracts

Products Liability

Consumer Credit Transactions

Secured Transactions and Suretyship

Mortgages and Nonconsensual Liens

Bankruptcy

Relationships Between Principal and Agent

Liability of Principal and Agent; Termination of Agency

Employment Law

Labor-Management Relations

Partnerships: General Characteristics and Formation

Partnership Operation and Termination

Hybrid Business Forms

Corporation: General Characteristics and Formation

Legal Aspects of Corporate Finance

Corporate Powers and Management

Securities Regulation

Corporate Expansion,state and Federal Regulation of Foreign Corporations,and Corporate Dissolution

Unfair Trade Practices and the Federal Trade Commission

The Nature and Regulation of Real Estate and the Environment

Introduction to Property: Personal Property and Fixtures

Intellectual Property

The Transfer of Real Estate by Sale

Landlord and Tenant Law

International Law

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