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Terms in this set (95)Which of these acts allows for criminal penalties? II only Phillip Esten operates a mail store in which he offers various services such as packaging items for shipment, delivering items to overnight services, and a fax machine. Esten charges $4.00 for deliveries for one-time customers and $2.00 for deliveries for his account customers. Esten's prices: are not covered under the Robinson - Patman Act Gringo's Restaurant is a small restaurant located in Mesa, Arizona, neighborhood shopping center that has a grocery store (chain) as its anchor tenant. Carl Williams own's Gringo's and has just negotiated its sale to Wilma Freestone. The covenant not to compete provides that Williams will not open a competing restaurant anywhere within a two-mile radius of Gringo's for a period of two years. The noncompete covenant is: probably reasonable and enforceable Which of the following arrangements is subject to the rule of reason test? sole outlets and exclusive distributorships Market power is: represented by a relatively inelastic demand curve Territorial restrictions are: questioned when there is no interbrand competition Vertical mergers are: mergers between buyers and sellers Maximum price requirements: constitute resale price maintenance. The legality of vertical mergers is determined by the relevant geographic and product markets. True Tying arrangements are per se antitrust violations. False Most monopolization cases are aimed at firms with market shares greater than fifty percent. True Division of markets is a per se violation. False Joint ventures among competitors are per se violations. False The Interstate Commerce jurisdictional standard for the Sherman Act requires proof of transactions across state lines. True Setting maximum prices is a per se violation of the Sherman Act. False Due to increased international competition, more joint ventures have occurred in recent history than would have been predicted based on U.S. antitrust laws. True Intrabrand competition exists when a manufacturer provides the same goods to more than one distributor or retailer in a particular market area. True An agreement among competitors for elimination of bidding is a violation of federal antitrust laws True The Clayton Act provides for treble damage recovery for all antitrust violations. True Corporations can be fined up to $100 million for violations of the Sherman Act. True A covenant in the sale of a dry cleaning business that prohibits the seller from operating a dry cleaning business anywhere in that state is too restrictive to be
enforced. True Predatory pricing is illegal. False Meeting the competition is a defense to price discrimination. True An agreement among competitors to control the supply of their products to the market violates the Sherman Act. True The Antitrust Modernization Commission is an international committee. False Exclusive distributorships are per se antitrust violations. False The Celler-Kefauver statute, part of the Clayton Act, regulates asset acquisitions. True Section 1 of the Sherman Act covers monopolization False The failing company doctrine is an exception to horizontal merger restrictions. True The Clayton Act does not carry criminal penalties. True Equitable remedies are not available under the Sherman Act. False Intrastate commerce, by definition, can never be subject to federal regulation. False A tying arrangement requires the seller to have market power in the tying product. True Which of the following acts prohibits unfair methods of competition? Federal Trade Commission Act Several law firms in the Detroit area have met and agreed not to charge more than $200 for a simple will so that they can more effectively compete with the increasing number of legal clinics. The agreement for a price maximum is: price fixing and an antitrust violation. Superior skill, foresight, and industry is a: justification for a monopoly. Snow-Man manufactures a cotton candy machine. It will not sell its machine unless the buyer purchases at least five dozen paper cones for holding the cotton candy. Snow-Man's requirement is: a tying arrangement. Resale price maintenance is: a per se violation. Snow-Man manufactures a cotton candy machine. It will not sell its machine unless the buyer purchases at least five-dozen paper cones for holding the cotton candy. The cotton candy machine is: the tying product. Which statement is correct concerning penalties under the Sherman Act? Corporations can be fined up to $100 million Which of these is a valid defense in tying cases? New industry defense Phillip Esten operates a mail store in which he offers various services such as packaging items for shipment, delivering items to overnight services, and a fax machine. Esten has been charging $2.00 per page for the fax service, but a new store has opened in a nearby shopping center that is charging $1.00 per page. Esten lowers his price to $.50 per page, knowing this charge will not always cover his cost. Esten's actions: constitute meeting the competition. Which of the following is not an exemption to the Robinson-Patman Act? All of the above are exemptions. Which federal antitrust statute is the primary one to address illegal price discrimination? Robinson-Patman Act Which of the following is not a per se violation of the antitrust laws? predatory pricing. Termination of a TV retailer's sales contract with a TV manufacturer by that manufacturer for selling the manufacturer's TVs at too-low prices is: resale price maintenance subject to a rule of reason review. Coca-Cola, Inc. and PepsiCo, Inc. have only one distributor each in the Phoenix area. The Phoenix market is an intensely competitive soft drink market with prices being among the lowest in the nation. A local restaurateur has requested a dealership from PepsiCo and has been denied. He claims an antitrust violation. Which of the following statements is true? The denial is justifiable given the level of interbrand competition. If clients of a brokerage house feel that there are anticompetitive activities being used among and between the various brokerage houses that result in price impacts for them, then: their remedy is under the Clayton Act for vertical price discrimination. In which situation would U.S. antitrust law apply? All of these Which of these acts does not allow for treble damages? FTC Vertical mergers are: mergers between buyers and sellers. Maximum price requirements: constitute resale price maintenance. Territorial restrictions are: questioned when there is no interbrand competition. The market definition controls whether there is market power. False The failing company doctrine is an exception to horizontal merger restrictions. True A monopsony is the same thing as a monopoly. False The Clayton Act does not carry criminal penalties. True An agreement among competitors for elimination of bidding is a violation of federal antitrust laws. True Exclusive distributorships are per se antitrust violations. True The Interstate Commerce jurisdictional standard for the Sherman Act requires proof of transactions across state lines. false The Robinson-Patman Act applies to goods and services. False The Antitrust Modernization Commission is an international committee. False The Robinson-Patman Act deals with price discrimination. True Setting minimum prices is a per se violation of the Sherman Act. True Sole outlets are not antitrust violations when there is interbrand competition. True Requiring a franchisee to use trademark napkins is a per se antitrust violation. False The Sherman Act imposes fines and imprisonment for violations. True Group boycotts are per se violations. True A tying arrangement requires the seller to have market power in the tied product. False Section 1 of the Sherman Act covers monopolization. False Only Clayton Act violations carry treble damages. False Corporate officers are not liable for violations of the Sherman Act. False Quantity discounts violate the Robinson-Patman Act. False Corporations can be
fined up to $100 million for violations of the Sherman Act. True Most monopolization cases are aimed at firms with market shares greater than fifty percent. True Resale price maintenance prohibitions apply only to minimum prices. True Jay Farnswood is the president of a local group of real estate agents. At their monthly luncheon meeting, Farnswood stood and told his colleagues that he simply could not survive by charging the 5 percent commission rate and noted, "I don't know what the rest of you are going to do, but I am going to charge 6 percent commission on all my listings starting today." Farnswood's statements: constitute price fixing. Sedres, Inc. is the manufacturer of the current best-selling TV video game system. Sedres will not sell parts for repair of the systems to anyone other than its authorized dealers. All Sedres authorized dealers are required to send used parts back to Sedres. Sedres will terminate an authorized dealer if it uses non-Sedres parts for repairs. Sedres' policies on dealers: constitute violations of the Sherman Act. Vertical mergers are: mergers between manufacturers and wholesalers. Phillip Esten operates a mail store in which he offers various services such as packaging items for shipment, delivering items to overnight services, and a fax machine. Esten has been charging $2.00 per page for the fax service, but a new store has opened in a nearby shopping center that is charging $1.00 per page. Esten lowers his price to $.50 per page, knowing this charge will not always cover his cost. Esten's actions: constitute meeting the competition. Which of the following is not regulated by the Clayton Act? monopolization Most monopolization cases target companies that have a market share of over what percent? 50 Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines. The result is that 93 percent of all new pools have the system, and 94 percent of all pool owners buying replacement systems choose Pool Line. The relevant product market is: pool cleaning systems. Resale price maintenance occurs when: minimum prices are enforced. Which type of horizontal merger is allowed in the hope of creating a company more able to compete with larger competition? small-company doctrine Maximum price requirements: constitute resale price maintenance. Which of the following activities is not covered in the Sherman Act? price discrimination Action Outfitters is a national manufacturer and retailer of outdoor gear. When it agrees to sell its merchandise to a retailer, the retailer must also agree to purchase Action's outfits for clerks, its displays, its shopping bags, and its gift boxes. Action says that these items are part of its brand identification. A retail outlet has brought suit because it only wants the Action merchandise and does not want the outfits, displays, bags, or boxes. none of the above A group of local architects has met and decided that their bidding on public works projects has created a danger for the public because the bids come in so dangerously low that building safety is sacrificed. The action of the architects: violates the Sherman Act in spite of their motivation. Which of these is a valid defense in tying cases? New industry defense Which of the following statute(s) do not carry criminal penalties? FTC Act Which of these acts does not allow for treble damages? FTC If clients of a brokerage house feel that there are anticompetitive activities being used among and between the various brokerage houses that result in price impacts for them, then: their remedy is under the Clayton Act for vertical price discrimination. The EU has: its own set of antitrust laws; some have negatively affected U.S. companies. 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What type of activity would likely prompt such charges? 2 answers QUESTION The issue of whether or not ratification has occurred is a question to be decided by the jury. 3 answers QUESTION In terms of total net income, sole proprietorships are the largest forms of business ownership. 2 answers Which of the following is a per se violation of federal antitrust laws?Price fixing and market allocation agreements are per se antitrust violations. That means they are the worst of the worst of anticompetitive conduct.
Which of the following is a violation of the antitrust laws quizlet?Business practices and behaviors which violate antitrust laws include collusion, price fixing, market allocation, bid rigging, restricting market entry, exclusive dealing, and predatory pricing.
What is market division and is it a per se violation of the Sherman Act quizlet?attempt to prohibit wholesalers or retailers from reselling the product to certain classes of buyers such as competing retailers. It is a per se violation under section 1 of the Sherman Act.
How does the rule of reason differ from a per se violation?While some actions like price-fixing are considered illegal per se, other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably restrain trade.
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Which of the following is a per se violation quizlet
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