In the U.S. Steel case of 1920, the courts held that:
the structure of an industry is more important than its behavior in determining violations of
the antitrust laws.
B. any firm that faces substantial import competition is exempt from the antitrust laws.
C. although U.S. Steel possessed monopoly power, it had not violated the Sherman Act
because it had not unreasonably used that power.
D. the fact that U.S. Steel possessed monopoly power was a violation of the Sherman Act.
Answer: C
You might also like to view...
The above table has the demand and supply schedules for money. Real GDP increases and, as a result, the demand for money increases by $0.1 trillion at each level of the nominal interest rate. The new equilibrium interest rate is
A) 5 percent. B) 2 percent. C) 10 percent. D) 3 percent. E) 7 percent.
Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for walnuts. An advance in production technology which makes harvesting walnuts less time consuming would be represented by a shift from
A) Demand 1 to Demand 2. B) Demand 2 to Demand 1. C) Supply 1 to Supply 2. D) Supply 2 to Supply 1.