Which of the following acts prohibits a firm from selling to two or more different buyers, within a reasonably short time, commodities (not services) of like grade and quality at different prices where the result would be to substantially lessen competition?
a. The Federal Trade Commission Act
b. The Food and Drug Administration Act
c. The Sherman Act
d. The Robinson-Patman Act
ANSWER: d
The Robinson-Patman Act prohibits any firm from selling to two or more different buyers, within a reasonably short time, commodities (not services) of like grade and quality at different prices where the result would be to substantially lessen competition. However, a variation in price is justified if it is designed to meet fluid product or market conditions.
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