True/False
Indicate whether the sentence or statement is true
or false.
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1.
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All
agreements between rivals result in enhanced market power or unreasonably restrain
trade.
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2.
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If an
agreement is a per se violation, no further inquiry into its reasonableness is
necessary.
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3.
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A
horizontal restraint is an anticompetitive agreement between firms operating at different levels of a
market.
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4.
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A
price fixing agreement is analyzed under the rule of reason.
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5.
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Any
agreement that artificially fixes prices is an unreasonable restraint of trade.
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6.
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A
market division by class of customer between rival firms is not a violation of antitrust
law.
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7.
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Territorial and customer market divisions are judged under a rule of
reason.
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8.
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An
industry in which a few firms control a large percentage of market sales is a concentrated
industry.
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9.
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A
group boycott cannot violate the Sherman Act.
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10.
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If a
joint venture does not involve price fixing or a market division, it is not in
violation of antitrust law.
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11.
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If a
joint venture involves price fixing, it will be analyzed under the rule of reason.
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12.
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A
vertical restraint is an agreement that restrains competition between firms competing in the same
market.
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13.
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A
resale price maintenance agreement never violates the Sherman Act.
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14.
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A
resale price maintenance agreement occurs when a manufacturer sets a minimum price that a
retailer agrees to charge for the manufacturer's product.
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15.
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In
most circumstances, a manufacturer may deal or not deal with anyone without incurring liability under
the antitrust laws.
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16.
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Price
discrimination occurs when different buyers are charged different prices for the same
goods.
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17.
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For
purposes of price discrimination, identical products sold under different labels are deemed to be of
like quality.
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18.
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A
tying arrangement occurs when competitors agree to fix, or "tie," their prices at the same
level.
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19.
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In
determining the legality of a tying arrangement, there are three relevant markets to
consider.
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20.
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A
merger between firms that compete with each other in the same market is a vertical
merger.
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