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Exam 38: Antitrust Law and Promoting Competition

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Question 31

True/False

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

A) True
B) False

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Question 32

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Fresh Vegetables,Inc.,a wholesaler,refuses to sell its produce to Good Foods Marketplace,Inc.,a retailer. This is

A) "an unfair or deceptive act or practice."
B) a per se violation.
C) not a violation.
D) subject to analysis under the rule of reason.

E) B) and D)
F) C) and D)

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Question 33

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In determining the legality of a merger,market concentration has no significance.

A divestiture is an order to a company to cease,or divest itself of,its an-ticompetitive conduct.

Resale price maintenance agreements are per se violations of the Sherman Act.

For products that are sold nationwide,the relevant geographic market is the entire globe.

The purpose of antitrust legislation is to foster competition.

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

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

Insurance companies are exempt from antitrust laws whenever state regulation exists

Rugged Bikes,Inc.,makes and distributes Rugged-brand bicycles and accessories to authorized dealers,including Super Sports Stores,Inc. Super Sports operates dealerships in several locations. To insulate other dealers from direct competition,Rugged Bikes imposes limits on where Super Sports can sell Rugged products. This is

Sunrich Company can process solar energy into an inexpensive fuel for internal combustion engines. As an innovator in its market,Sunrich currently has the power to affect the price of its product. This is

Thermo Gas,Inc.,and Uno Oil Corporation refine and sell gasoline and other petroleum products. To limit the supply of gas on the market and thereby raise prices,Thermo Gas and Uno Oil agree to buy "excess" supplies from dealers and "dispose" of it. This is

A trade association practice or agreement that restrains trade is analyzed under the rule of reason.

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

Price discrimination occurs when a seller charges different prices to competing buyers for identical goods or services.

Pump Makers Inc. makes pumps for fire trucks and conditions shipments of its products to Quality Motors Corporation-a maker of fire trucks-on Quality's agreement to buy additional pumps only from Pump Makers. This is

Agreements that are deemed per se violations of Section 1 of the Sherman Act include all of the following except

Under an exclusive-dealing contract,a seller promises a buyer a certain territory in which the buyer will have no direct competition.

The Association of Organic Food Growers,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