Although U

Multiple Choice

Although U.S. Steel controlled nearly 75 percent of the domestic iron and steel industry, in 1920 the Supreme Court ruled that the firm was not in violation of the Sherman Antitrust Act because

A) there was no evidence of abusive behavior. The Court applied t he rule of reason in this case.
B) 75 percent of the market is not high enough to constitute monopoly power.
C) there was no evidence of abusive behavior. The Court applied the per se rule in this case.
D) the domestic iron and steel industry is a natural monopoly. The Court decided regulation was needed.