Anti-Trust Laws

Question 1

Horizontal Agreement

Answer 1

is an agreement between competitiors

Question 2

Vertical Agreement

Answer 2

is an agreement between wholesaler and a retailer

Question 3

What does price fixing consist of

Answer 3

Agreements that directly affect price. Ex. Refusing to provide credit.

Question 4

Horizontal Price fixing

Answer 4

is illegal

Question 5

Vertical Price Fixing

Answer 5

is Legal

Question 6

Goverment creation of monopoly status through a patent

Answer 6

is permissible under law as long as no other anti-competitive conduct is involved.

Question 7

A patent

Answer 7

grants the holder a 20 year exclusive right to market the product which starts at the application date

Question 8

For design patents

Answer 8

the exclusive rights period is 14 years

Question 9

Predatory pricing

Answer 9

is a form of monopoly by selling items below cost to prevent a market

Question 10

What conduct is illegal with regards to a monopoly

Answer 10

1) requiring companies to sell ONLY your products

2) requiring to take other products in addition