According to the U.S. Supreme Court's 1945 ruling on Alcoa,
a. all monopolies are illegal
b. price fixing agreements are illegal under the rule of reason
c. small firms can be found to be in violation of the Sherman Antitrust Act
d. "mere size is no offense."
e. possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act
E
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A short-run decision by a firm to not produce anything during a specific period is referred to as a(n):
A) lockout. B) shutdown. C) buyout. D) exit.
The money market is definitely in equilibrium in which of the following cases?
a) when velocity is constant b) when the quantity of money demanded equals the quantity of money supplied c) when the present value is equal to the interest rate d) when the present value is greater than the interest rate e) when the interest rate is equal to the price of bonds