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Exam 19: Antitrust and Regulation of Competition

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Question 1

True/False

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The courts have adopted a soft per se analysis for cases involving tying agreements.

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True

Question 2

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Horizontal restraints are agreements between:

A) business and government
B) noncompetitors
C) competitors
D) consumers and government

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Question 3

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All monopolies are illegal.

Joe and Arthur each own a chain of restaurants.In order to ensure successful restaurants,Joe and Arthur enter into an agreement that Joe will open his new locations in Kansas City but not St.Louis and Arthur vice versa.This is an example of:

Which of the following is not a vertical restraint?

The U.S.Major League Soccer League wants to have more similarity in its licensed goods so the league decides to contract with a single company to produce all of the licensed goods for every team.Will MLS be able to do so?

Gas station owners agreeing on the price per gallon is not a violation of the Sherman Act.

The standards courts use to determine violations of the Sherman Act are the rule of reason standard and the ________ standard.

The Clayton Act was enacted to limit the provisions of the Sherman Act.

The Sherman Act only applies to entities who have acted in an unreasonable manner.

Modern antitrust law's focus is on:

Discuss the difference between horizontal and vertical price fixing.

Antitrust legislation was enacted in response to the robber barons of the late 18^th century.

The CEO of a major computer technology firm wants to form an organization for computer firms in order to share data,information,and ideas.Depending on what was shared at the meetings the organization may violate antitrust laws.What standard should be used to analyze the organization?

The University of Dover and Dover University are bitter cross town rivals.They compete in everything from sports to academics.The schools,because of shrinking enrollment,make an agreement to give all incoming students free tuition for one semester before raising the existing rates the following semester.This action would be considered:

Rockefeller's Standard Oil Trust is an example of a company that participated in antitrust behavior.

Which act was designed to prevent monopolies from being created through mergers?

The Robinson-Patman Act make it illegal for a business entity to discriminate in price "between different purchasers of commodities of like quality or grade." In order to violate this act,the business must:

Which of these agencies enforce federal antitrust laws?

What constitutes a meeting of the minds for antitrust laws? Why is it important?