The Sherman Act was designed to:
A. exempt commercial banks from the antitrust laws.
B. make interlocking directorates legal.
C. prohibit misleading and antisocial advertising.
D. make monopoly and acts that restrain trade illegal.
Answer: D
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Dramatic reductions in costs of producing computers in the 1980s and equally dramatic increases in the demand for computers result in
A. increases in the quantity and price for computers. B. increases in the quantity of computers and reductions in the price of computers. C. decreases in the price and quantity of computers. D. decreases in the quantity of computers and increases in the price of computers.
With asymmetric information, firms might be reluctant to improve the quality of their products because
A) it costs them more to produce the better quality product. B) they are not able to completely capture the benefits of the improvement. C) consumers do not value the better product. D) consumers are better informed about the product and value the new product less.