ADMS 2610 Chapter Notes -Combines Investigation Act, Bid Rigging, Sherman Antitrust Act

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redserval588

29 Mar 2022

School

York University

Department

Administrative Studies

Course

ADMS 2610

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Document Summary

Based upon the premise that the forces of competition and the free market should regulate the industry rather than government. Sherman act: a statute that prohibited and combination or conspiracy (agreement between first to unduly lessen competition) that had the effect of limiting competition unduly in a trade or manufacturer. Combines investigation act: incorporates provision of the criminal code, added additional trade practices and defined misleading price advertising and discriminatory promotional allowances as restrictive trade practices. The act permits the commissioner or the commissioner"s agents to enter on the premises of any person that the commissioner believes may have evidence related to the inquiry. The commissioner must do so only in accordance with an inquiry pursuant to a complaint of an alleged violation. The commissioner"s powers extend beyond the mere right to search. Competition tribunal: consists of lay members and judges.

Related Questions

1)Which of the following is true about the Sherman Act?

A.It prohibited price discrimination.

B. It prohibited price-fixing and collusion.

C. It prohibited mergers if it led to weakened competition.

D. It made engaging in predatory activities illegal.

E. It encouraged firms to take advantage of the patent system.

2)
Which of the following is true of price discrimination?

A. Customers need to differ in their willingness to pay for price discrimination to occur.

B. Customers need to have a unit elastic demand curve for price discrimination to occur.

C. Price discriminators profit by charging a uniform price to all customers.

D. Price discriminators lack the incentive to reduce their average total cost of production.

E. Customers can easily resell a good to other customers if there exists price discrimination in the market for the good.

3) Which of the following types of firms do not practice price discrimination?

A. Airlines

B. Movie theaters

C. Soft drink companies

D. Colleges

E. Amusement parks

4) Oligopoly, like perfect competition, is a market structure in which firms can easily enter and leave the industry.

a. True
b. False

Monopolistic competition is characterized by:

A. A large number of firms selling differentiated products.

B. A perfectly elastic demand curve.

C. High barriers to entry.

D. large number of firms selling identical products.

E. A small number of firms selling differentiated products.

6) Which of the following is not a source of product differentiation?

A. Prestige considerations in products

B. Differences in the cost of production of products

C. Physical differences in products

D. Differences in the services provided by firms

E. Differences in the location of sales outlets

7) The restaurants in San Francisco can probably be categorized as examples of firms

A. operating in an oligopolistic market.

B. operating in a monopolistically competitive market

C. operating in a perfectly competitive market

D. forming a cartel.

E. Operating in a monopolistic market

teallouse322

36)

What did the Robinson-Patman Act do?

	It prohibited suppliers from offering discounts to large chain stores unless they also offer discounts to everyone else,
	It restricted false advertising.
	It prohibited price discrimination.
	All of the above
	None of the above

37)

Which does the Celler-Kefauver Act do?

	It makes price-fixing per se illegal.
	It bans anti-competitive mergers that occur as a result of one company acquiring the physical assets of another company.
	It requires a 30-day waiting period for large mergers.
	All of the above
	None of the above

38)

Which antitrust law declares price discrimination, exclusive dealing, tying contracts, and acquisition of competing for companies stock to be illegal if these actions would substantially lessen competition.

	Sherman Act
	Clayton Act
	Robinson-Patman Act
	Wheeler-Lea Act
	Celler-Kefauver Act

39)

The Clayton Act was passed to clear up ambiguities in which antitrust law?

	Wheeler-Lea Act
	Celler-Kefauver Act
	Clayton Act
	Robinson-Patman Act
	Sherman Act

40)

The primary intent of antitrust legislation is to

	ensure that product safety standards are met.
	eliminate positive economic profits.
	control monopoly power and preserve and promote competition.
	All of the above
	None of the above

ivoryhornet2

Question 6 (2 points)

Which one of the following statements is true?

Question 6 options:

	The Clayton Act was the first antitrust law
	The Sherman Act prohibits price discrimination
	The Sherman Act prohibits interlocking directorates
	The Clayton Act prohibits tying contracts

Question 7 (2 points)

Which of the following practices would not be outlawed specifically by the Clayton Act?

Question 7 options:

	A soft drink company agrees to sell its soft drink to a retail outlet only if the store agrees not to stock its competitors' products.
	Competing firms interlocking their boards of directors.
	Conglomerate mergers in which companies in completely unrelated industries are merging together.
	Price discrimination aimed at reducing competition.

Question 8 (2 points)

Trusts or monopolies that engage in restraint of trade or commerce are prohibited by

Question 8 options:

	The Sherman Act
	The Clayton Act
	The Federal Trade Commission Act
	The Patriot Act

Question 9 (2 points)

The most significant outcome of the Sherman Act was

Question 9 options:

	to break-up Standard Oil and American Tobaccoâs monopoly control of the oil and tobacco industries.
	to outlaw of price discrimination used by Pepisco
	to punish the railroads for price discrimination

Question 10 (2 points)

Interlocking directorates are prohibited under the

Question 10 options:

	Sherman Act.
	Clayton Act.
	both the Sherman and Clayton Acts.
	neither the Sherman Act nor the Clayton Act.

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ADMS 2610 Chapter Notes -Combines Investigation Act, Bid Rigging, Sherman Antitrust Act

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