Solved by verified expert :43)
The Robinson-Patman Act of 1936
A)
prohibited selling products at “unreasonably low prices” with the
intent of reducing competition.
B)
made it illegal to monopolize a market.
C)
repealed the Sherman Act.
D)
outlawed price discrimination for the purpose of reducing competition.
44)
The Celler-Kefauver Act of 1950
A)
extended antitrust legislation to proprietorships and partnerships.
B)
made it illegal to monopolize a market.
C)
outlawed asset-purchase mergers that would substantially reduce competition.
D)
outlawed price discrimination for the purpose of reducing competition.
45)
The Hart-Scott-Rodino Act of 1980
A)
extended antitrust legislation to proprietorships and partnerships.
B)
made it legal to monopolize a market.
C)
outlawed asset-purchase mergers that would substantially reduce competition.
D)
outlawed price discrimination for the purpose of reducing competition.
46)
Tie-in sales
A)
are legal under the Clayton Act.
B)
are the same as predatory pricing.
C)
were banned under the Hart-Scott-Rodino Act.
D)
are contracts that prevent purchasing one good without purchasing another.
47)
The Celler-Kefauver Act of 1950
A)
established the FTC.
B)
closed down a loophole in the Clayton Act by outlawing mergers through the
purchase of another firm’s physical assets.
C)
closed down a loophole in the Sherman Act by outlawing mergers through the
purchase of another firm’s physical assets.
D)
banned tying contracts.
Recall the Application about the 1998 merger between
Penzoil and Quaker State to answer the following question(s). The merger
resulted in a company with a market share of 38%: 29% from Penzoil and 9% from
Quaker State.
48)
Recall the Application. A recent study concluded that following the merger
between Penzoil and Quaker State, the new company ________ the price of Penzoil
products and ________ the price of Quaker State products.
A)
increased; increased
B)
decreased; increased
C)
increased; did not change
D)
did not change; increased
49)
Recall the Application. A recent study concluded that following the merger
between Penzoil and Quaker State, the market share of Penzoil products ________
and the market share of Quaker State products ________.
A)
increased; increased
B)
increased; decreased
C)
increased; did not change
D)
did not change; increased
50)
The purpose of antitrust policy is to encourage competition in an industry.
51)
Producers of close substitutes have little or no incentive to merge.
52)
The Justice Department will not allow firms to merge if the result will be
higher prices to consumers.
