The Robinson-Patman Act amended and further refined which of the following laws?
a. The Sherman Antitrust Act.
b. The Celler-Kefauver Act.
c. The Clayton Act.
d. The FTC Act.
e. The Herfindahl-Hirschman Act.
c
You might also like to view...
Which of the following is illegal according to the antitrust laws?
A) the use of coupons B) price discrimination based on cost differences C) vertical mergers D) price fixing
If a price decrease of a product significantly raises its revenues, then the absolute price elasticity of demand for that product must be
A) less than one. B) equal to one. C) greater than one. D) an example of unit elasticity.
A cut in government spending, a decrease in income abroad, an increase in taxes, or an expectation that future consumer income will fall will all cause aggregate:
a. demand to shift rightward. b. demand to shift leftward. c. supply to shift rightward. d. supply to shift leftward. e. supply and aggregate demand to both shift equally inward.
A firm sells grapefruit in a perfectly competitive market at a price of $1.50 per pound. The firm's marginal revenue: a. equals $1.50
b. is less than $1.50. c. is greater than $1.50. d. cannot be determined from the information provided.