General Concepts
The per se rule makes certain practices automatically ________ and ________.
Unreasonable; illegal
The FTC Act authorizes what federal body to enforce antitrust laws?
The Federal Trade Commission (FTC)
In what year was the Robinson-Patman Act enacted?
1936
In what year was the Clayton Act passed?
1914
In what year was the Sherman Antitrust Act passed?
1890
Dividing markets among competitors is an example of what type of restraint?
Horizontal restraint
Section 5 prohibits “unfair methods of ________ and ________ practices.”
Competition; deceptive
This Act focuses on what type of unfair pricing?
Price Discrimination
The Clayton Act was created to strengthen which other act?
Sherman Act
Section 1 prohibits contracts, combinations, or conspiracies that do what?
Unreasonably restrain trade or commerce
Horizontal restraints occur among
Competitors
The FTC Act was designed to support and enforce how many other antitrust acts?
Three
Sherman, Clayton, Robinson-Patman
What group of businesses is the Robinson-Patman Act designed to protect?
Smaller businesses
Which type of arrangements does the Clayton Act prohibit where a buyer must agree to one product to get another?
Tying arrangements
Section 2 prohibits what type of behavior?
Monopolization, attempted monopolization, or conspiracies to monopolize
Vertical restraints happen through what system?
The supply chain
Give one example of a deceptive practice the FTC could regulate.
False advertising
True or False: The Robinson-Patman Act allows large companies to command discriminatory discounts.
False
Name one type of merger or acquisition the Clayton Act regulates.
Mergers & acquisitions that reduce competition
The Sherman Act is considered the most important set of laws in what category?
Antitrust laws
Name two examples of price regulations competitors cannot engage in.
Price fixing, selling below a certain price, fixing commission rates, setting credit terms, exchanging cost info
True or False: The FTC Act was passed before the Sherman Act
False
The Robinson-Patman Act requires products to be of what kind of grade and quality?
Like grade and quality
What practice involving directors of competing companies does the Clayton Act restrict?
Interlocking boards of directors
Give one example of a practice judged under the per se rule.
Fixing prices