1. Suppose competitor firms in an industry gathered and shared certain data about costs. Under the Sherman Act, such action would likely be: a. per se illegal b. an illegal conspiracy under a rule of reason c. permissible if all information was made public d. permissible unless it could be shown that a market injury occurred . **Antitrust and Competition Concepts**3. If competitors in an industry get together to agree to ___ the market and not compete directly with each other, this is likely an illegal territorial allocation. *Fill in the blanks with words that would best complete the passage:* - segment - combine - enlarge - interlocking directorate - price fixing - merger4. When controls on relationships among buyers and sellers, such as manufacturer to retailer, are imposed, they are called horizontal restraints of trade. - a. True - b. False5. When a manufacturer tells a retailer the price to sell its product at the retail level, that practice is called resale price maintenance.6. When the sale of one good is linked to the sale of another good, it is said to be a (an) tying arrangement. When a group conspires to prevent the carrying on of business or to harm a business, it is called a (an) boycott and is likely illegal. *Fill in the blanks with words that would best complete the passage:* - vertical - product - market - sharing7. In general, large retailers, such as Walmart, favor resale price maintenance. - a. True - b. False

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1. Suppose competitor firms in an industry gathered and shared certain data about costs. Under the Sherman Act, such action would likely be: a. per se illegal b. an illegal conspiracy under a rule of reason c. permissible if all information was made public d. permissible unless it could be shown that a market injury occurred

1. Suppose competitor firms in an industry gathered and shared certain data about costs. Under the Sherman Act, such action would likely be: a. per se illegal b. an illegal conspiracy under a rule of reason c. permissible if all information was made public d. permissible unless it could be shown that a market injury occurred

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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