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Quiz 2
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1
Suppose a court rules that, even though it produces 80% of its industry's output, a company is not in violation of the antitrust laws because the firm's behavior is not anticompetitive. This decision:
A)would clearly be overturned on appeal
B)illustrates the structuralist view of regulation
C)is consistent with the rule of reason
D)is consistent with the Alcoa case
2
Social regulation is best exemplified by:
A)the Celler-Kefauver Act
B)the Federal Trade Commission
C)the Interstate Commerce Commission
D)the Equal Employment Opportunities Commission
3
Price fixing is a per se violation of antitrust law.
A)True
B)False
4
The Microsoft case is characterized by all of the following except:
A)the court ruled that the applicable market was software to operate Intel-based personal computers
B)Microsoft's 95% market share constituted an illegal monopoly
C)initially, the court imposed a structural remedy
D)upon appeal, the court imposed a behavioral remedy
5
Antitrust authorities are unlikely to take action against conglomerate mergers because such mergers:
A)are protected by the Celler-Kefauver Act
B)are unlikely to create monopoly power
C)promote exports, a worthy social goal
D)reduce unemployment, a worthy social goal
6
Suppose a fast food chain were to merge with a firm that makes paper and plastic wrappings for the chain's entrees. This would be an example of a:
A)vertical merger
B)conglomerate merger
C)horizontal merger
D)per se violation of antitrust law
7
Federal antitrust laws are enforced by the:
A)Federal Trade Commission and the Justice Department
B)Interstate Commerce Commission and the Justice Department
C)Federal Trade Commission and the Interstate Commerce Commission
D)Federal Trade Commission, the Department of Commerce, and state attorneys general
8
Of the following agencies, which is engaged in industrial regulation?
A)Food and Drug Administration
B)Equal Employment Opportunity Commission
C)Federal Communications Commission
D)Occupational Safety and Health Administration
9
The "structuralist" view can be summarized as:
A)the rule of reason
B)each monopoly must be scrutinized independently with respect to its record of technological progress and pricing
C)firms in any type of market structure are capable of engaging in anticompetitive acts
D)any firm with substantial monopoly power will use that power to restrict output and raise prices
10
The Clayton Act prohibited:
A)unfair and deceptive sales practices that reduce competition
B)vertical mergers
C)conglomerate mergers
D)price discrimination





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