Unfair trade practice acts were enforced to:
a. ensure the adoption of the Sherman Act that makes bait pricing illegal.
b. prevent oligopoly leaders from joining together and fixing prices at the highest rates that a market will allow.
c. establish penalties for companies that break the Clayton Act by engaging in predatory pricing.
d. protect small local firms from giant companies that operate efficiently on razor-thin profit margins.
ANSWER: d
Unfair trade practice acts were enforced to protect small local firms from giant companies that operate efficiently on razor-thin profit margins. Unfair trade practice acts put a floor under wholesale and retail prices and prevent firms from selling below cost.
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