47. 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 thisact, the business must: A. make sales at different prices to at least three different purchasers.B. make one sale of a different price to a purchaser.C. make two or more sales to different purchasers at different prices.D. give different price quotes to different purchasers. 48. Which of these is not one of the steps in a three step test for attempted monopolization under the Sherman Act? 49. When is a monopoly illegal under the Sherman Act? 50. 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 butnot St. Louis and Arthur vice versa. This is an example of: 51. Modern antitrust law's focus is on: A. protecting individual companies.B. protecting the competitive process.C. all of the above.D. none of the above. 19-8
Chapter 19 - Antitrust and Regulation of Competition 52. Which of these was the first major antitrust law? 53. The law firm of Smith, Brown and Jones has just held a meeting in which they have decided that all fees charged by the partners will be $500 per hour with no exceptions. They also set nonnegotiable fees for such things as preparation of wills, real estate settlements and other types of standard types of cases. Smith, Brown and Jones:
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- Spring '16
- Business, The Wealth of Nations, Sherman Antitrust Act