Which of the following antitrust laws broadened the list of illegal price discrimination practices and is often called the "Chain Store Act"?
a. The Clayton Act.
b. The Federal Trade Commission Act.
c. The Robinson-Patman Act.
d. The Celler-Kefauver Act.
c
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The utilitarian case for redistributing income is based on the assumption of
a. collective consensus. b. a notion of fairness engendered by equality. c. diminishing marginal utility. d. rising marginal utility.
The equilibrium wage rate is determined by
A. Market labor supply and market labor demand. B. Labor unions. C. Firms but not individuals. D. Individuals but not firms.
Using the figure at? right, when the government imposes a price ceiling of? $20,
A. the quantity of goods that will be traded is 100. B. the quantity of goods that will be traded is 150. C.the quantity of goods that will be traded is 200. D.the quantity of goods that will be traded is 0.
Why are diamonds more expensive than water?
A. because the last diamond has higher marginal utility than the last glass of water B. because the last glass of water has higher marginal utility than the last diamond C. because water is a necessity D. because you get more total utility from diamonds