Antitrust

Question 1

Sherman act

Answer 1

Attempts to prevent concentrations of economic power/ large companies controlling multiple industries

Question 2

Clayton act

Answer 2

Passed cause courts didn’t strictly enforce the Sherman act

Question 3

Violation types

Answer 3

Per Se

Rule of reason

Question 4

Per se

Answer 4

Automatic

Question 5

Rule of reason

Answer 5

Illegal only if it has anticompetitive impact

Question 6

Illegal cooperative strategies

Answer 6

Horizontal (amount competitors)
Vertical (participants at different stages)
Mergers and joint ventures (permanent)

Question 7

Market division

Answer 7

Any effort to divide the market

Per se

Question 8

Price fixing

Answer 8

Per se

Question 9

Refusal to deal

Answer 9

Deciding not to do business with someone

Rule of reason

Question 10

Reciprocal dealing agreements

Answer 10

Buyer must sell and seller must buy to do business

Rule of reason

Question 11

Price discrimination

Answer 11

Illegal to charge different prices to different purchasers if items are the same and it lessens competition

Question 12

Mergers and joint ventures

Answer 12

Clayton act prohibits mergers that are anticompetitive

Question 13

Aggressive strategies

Answer 13

Seek to gain unfair advantage over competitors

Question 14

Monopolization

Answer 14

Only illegal if gained through wrongful tactics

Question 15

Predatory pricing

Answer 15

Lowering prices until competitors are forced out of business

Question 16

Tying agreement

Answer 16

Agreeing to sell a product if buyer also buys another product

Illegal if products are separate and seller has significant power in the market

Question 17

Vertical allocation of customers

Answer 17

Rule of reason

Question 18

RPM resale price maintenance

Answer 18

Setting minimum prices

Per se