If a firm offers quantity discounts or special promotional allowances only to favored distributors and the effect is to substantially lessen competition, then it is in violation of the:
a. Clayton Act.
b. Robinson-Patman Act.
c. Sherman Antitrust Act.
d. Federal Trade Commission Act.
e. Celler-Kefauver Act.
b
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In an auction where the bidders values are $400, $500, $650, $800 and $850, the highest two bidders form a bid-rigging cartel. What would have the winning bid been if there was no cartel?
a. $501 b. $651 c. $801 d. $846
__________ countries have explicit requirements about the number of parties that can participate in an election.
A. Most B. Few C. None D. All
If the government taxes an industry that creates pollution, the tax
i. decreases the pollution. ii. increases the price of the product produced by the firms. iii. decreases the quantity of the good produced. A) i only. B) ii only. C) ii and iii. D) i and iii. E) i, ii, and iii.
Suppose a country has a current account surplus and that there is no intervention by finance ministries or central banks. This current account surplus indicates that the country has
A) a deficit in its capital account. B) a surplus in its capital account. C) the official reserve transactions balance is positive. D) the official reserve transactions balance is negative.