Discuss when monopoly power is not a violation of Section 2 of the Sherman Act.
What will be an ideal response?
Under Section 2 of the Sherman Act, it is illegal to monopolize or to attempt to monopolize a market. Monopoly power in and of itself is not a violation of Section 2 of the Sherman Act. For a Section 2 violation, the acquisition of monopoly power must have been done in a wrongful manner. For example, monopoly power is not illegal if it is the result of a patent, efficient operation, superior business decisions, or a superior product. It is only illegal if it is obtained in an improper manner. To determine if a defendant has illegally monopolized, three questions must be answered: (1) What is the market? (2) Does the company control the market? and (3) How did the company acquire or maintain its control?
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What are the advantages and disadvantages of choosing a freestanding site for your retail store?
What will be an ideal response?
Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$97Budgeted unit sales (all on credit): January 10,000February 12,000March 13,300April 15,200? Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$9.00per direct labor-hourVariable selling and administrative expense$3.10per unit soldFixed selling and administrative expense$70,000per month?Credit sales are collected: 30% in the month of the sale 70% in the following month?Raw materials
purchases are paid: 30% in the month of purchase 70% in the following month?The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.?The estimated finished goods inventory balance at the end of February is closest to: A. $89,775 B. $335,160 C. $281,295 D. $245,385
To record estimated uncollectible accounts using the allowance method, the adjusting entry would be a
A) debit to Bad Debts Expense and a credit to Allowance for Doubtful Accounts. B) debit to Accounts Receivable and a credit to Allowance for Doubtful Accounts. C) debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable. D) debit to Loss on Credit Sales and a credit to Accounts Receivable.
The best example of cash equivalents would be:
a. short-term notes. b. U.S. Treasury bills. c. savings accounts. d. Certificates of deposits. e. None of the answers are correct.