According to the U.S. Robinson - Patman Act of? 1936, price discrimination
A. may be used to drive rivals out of business.
B. is always illegal.
C. can only be justified if the price discrimination is due to actual cost differences.
D. is legal unless it harms competition.
Answer: D. is legal unless it harms competition.
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The most desirable combination of output attainable with existing resources, technology, and social values is known as the
A. Attainable mix of output. B. Efficient mix of output. C. Efficient choice of production. D. Optimal mix of output.
Commodity monies have no intrinsic value.
Answer the following statement true (T) or false (F)
Which of the following is true under monopoly?
A. P > minimum of ATC. B. Profits are always positive. C. P = MR. D. None of the answers is correct.
If the government increases its purchases of goods and services by $3,000 and the MPC is 0.8, GDP and income will eventually increase by:
A. $2,400. B. $6,000. C. $15,000. D. $24,000.