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Exam 41: Antitrust Law

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Question 31

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Discount Retail Corporation may be engaging in conduct that violates the Sherman Act.To bring an action against the firm requires that its conduct have a significant impact on​ 

A)  ​international commerce. 
B)  ​Internet commerce. 
C)  ​interstate commerce. 
D)  ​intrastate commerce.

E) B) and C)
F) A) and B)

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Question 32

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A market division by class of customer between rival firms violates antitrust law. 

A) True
B) False

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Question 33

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Any agreement among competitors to fix prices is subject to evaluation under the rule of reason. 

Monopoly power is a minor amount of market power. 

Farm Crops Corporation offers to sell its wheat substitute to Gluten-Free,Inc.,only if Gluten-Free agrees to buy all of the wheat substitute that it needs from Farm Crops,even though there are other sellers from whom Gluten-Free could buy.This is​ 

Fine Food Company,Gourmet Cheeses,Inc.,and Healthy Eats,Inc.agree to exchange information and share advertising.This trade association is​ 

Dredgers,Inc.,is the major wholesale distributor of heavy equipment in the state of Georgia.Its closest competitor is Excavators Company,another Georgia firm.The two firms agree that Excavators will operate in southern Georgia and Dredgers will operate in northern Georgia.This is​ 

An act must substantially affect interstate commerce to violate antitrust law. 

A suit is filed against AgriSeeds Corporation,alleging that the firm committed the offense of monopolization.To determine whether AgriSeeds has monopoly power requires looking at​ 

Market power is the ability of a firm to enter a given market. 

Under what circumstances would Quality Market,a small store in Rustic,an isolated town,be considered a monopoly? If Quality Market is a monopoly,is it in violation of antitrust law?​

City Manufacturing Corporation conditions shipments of its products to Exurb Stores,Inc.,on Exurb's agreement not to buy products from Fresh Works Company,City's competitor.This is​ 

Precision Parts Corporation and Quality Gears,Inc.,are competitors selling certain machine parts that are otherwise generally unattainable in their geographic market.This market includes the states of Minnesota,North Dakota,and South Dakota.Precision Parts and Quality Gears agree that Precision Parts will no longer sell in Minnesota and that Quality Gears will no longer sell in North and South Dakota.Have Precision Parts and Quality Gears violated any antitrust law? If so,which one? Explain.If they had divided their market by type of customer rather than geographic are,would the result be the same? Why or why not?​

Soft Drink Corporation is charged with violating the Sherman Act through conduct subject to the rule of reason.When applying the rule of reason in this situation,a court will not consider​ 

Frozen Confections Corporation makes and sells ice cream under a variety of brand names.Frozen wants to merge with Grocers Products Company,its main competitor.In weighing a challenge to the deal,a court looks at the relevant product market.This most likely includes ice cream and​ 

When a small number of companies share a large part of a market,the market is concentrated. 

The Sherman Act,the Clayton Act and the Federal Trade Commission Act are all examples of legislation designed to curb anticompetitive business practices. 

Unilateral conduct cannot result in a violation of antitrust law. 

The Association of Organic Food Producers,which does not include all organic farmers and ranchers,refuses to deal with any parties who do not carry the products of its members.This group boycott is​ 

North Mining Company and South Excavation Company agree to abide by the decisions of East Coast Financial Corporation as to their respective levels of production,markets,and prices,effectively reducing competition and increasing profits.This is most likely​