The criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal or legal within the terms of the ________ is called the Rule of Reason.

A. Clayton Act
B. Sherman Antitrust Act
C. The Humphrey-Hawkins Act
D. Federal Trade Commission Act


Answer: B

Economics

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Up to which point will a perfectly competitive firm continue to invest? Explain carefully

What will be an ideal response?

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Job market signals like dressing well for interviews are not especially effective because:

A) the cost of dressing well is about the same for high-quality and low-quality workers. B) many businesses have adopted casual office attire, so dressing well is not important to the firm. C) federal labor laws prohibit firms from using dress or appearance as an employment criterion. D) none of the above

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What goods would be considered both excludable and rival in consumption?

a) private goods b) common goods c) public goods d) natural monopolies

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Recall the Application about choosing a price for drones based on a linear demand curve to answer the following question(s).Recall the Application. Suppose a firm that produces drones has a linear demand curve for its product, with a vertical intercept of $1,500. If the firm initially charged a price of $500 and then raised its price to $750, the firm's profit will:

A. increase. B. decrease. C. stay the same. D. decrease until it becomes zero.

Economics