Chapter 16 - CHAPTER 16TRADE PRACTICES ANTITRUST...

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Chapter 15 / Exercise 5
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CHAPTER 16—TRADE PRACTICES: ANTITRUSTTRUE/FALSE1.Covenants not to compete are illegal per se.
PTS:1NAT:AACSB: AnalyticTOP: covenants2.Covenants not to compete cannot be used in agreements for the sale of businesses.
PTS:1NAT:AACSB: AnalyticTOP: covenants3.Section 1 of the Sherman Act covers monopolization.
PTS:1NAT:AACSB: AnalyticTOP:Sherman Act4.The Sherman Act does not apply unless sales across state lines are involved.
PTS:1NAT:AACSB: AnalyticTOP:Sherman Act5.The Clayton Act provides for treble damage recovery for all antitrust violations.
PTS:1NAT:AACSB: AnalyticTOP:Clayton Act6.The Sherman Act imposes fines and imprisonment for violations.
PTS:1NAT:AACSB: AnalyticTOP:Sherman Act7.Competition restraints in commercial leases are generally valid.
PTS:1NAT:AACSB: AnalyticTOP: covenants8.The Robinson-Patman Act deals with price discrimination.
PTS:1NAT:AACSB: AnalyticTOP:Robinson-Patman Act9.The Celler-Kefauver Act regulates asset acquisitions.
PTS:1NAT:AACSB: Analytic
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Chapter 15 / Exercise 5
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TOP:Celler-Kefauver Act10.The Antitrust Improvements Act gave the Justice Department broader investigative authority.
PTS:1NAT:AACSB: AnalyticTOP:Antitrust Improvements Act11.The Interstate Commerce jurisdictional standard for the Sherman Act requiresproof of transactions across state lines.
PTS:1NAT:AACSB: AnalyticTOP:interstate commerce12.Together, Christie’s and Sotheby’s controlled about 75% of the international auction market.
PTS:1NAT:AACSB: AnalyticTOP:price fixing13.The Clayton Act does not carry criminal penalties.
PTS:1NAT:AACSB: AnalyticTOP:Clayton Act14.Equitable remedies are not available under the Sherman Act.
PTS:1NAT:AACSB: AnalyticTOP:Sherman Act15.Only Clayton Act violations carry treble damages.
PTS:1NAT:AACSB: AnalyticTOP:Clayton Act16.Generally, joint ventures among competitors in international business are perseviolations of the Sherman Act.
PTS:1NAT:AACSB: AnalyticTOP: international17.Monopoly power is the power to control prices or exclude competition.
PTS:1NAT:AACSB: AnalyticTOP: monopolize18.Cross-elasticity of demand is irrelevant in determining the product market.
PTS:1NAT:AACSB: AnalyticTOP: cross-elasticity
19.Predatory pricing is pricing below actual cost.
PTS:1NAT:AACSB: AnalyticTOP:predatory price20.Predatory pricing is illegal.
PTS:1NAT:AACSB: AnalyticTOP:predatory price21.Setting minimum prices is a per seviolation of the Sherman Act.
PTS:1NAT:AACSB: AnalyticTOP:Sherman Act22.An agreement among competitors for elimination of bidding is a violation of federal antitrust laws.
PTS:1NAT:AACSB: AnalyticTOP:price fixing23.Setting maximum prices is a per seviolation of the Sherman Act.

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