The Clayton Act:
A) was passed in 1985 over the objections of then President Reagan.
B) outlaws racial discrimination in the practice of business.
C) outlaws the ownership of stock by the U.S. government unless it is in public enterprises.
D) outlaws price discrimination unless based on cost differences.
D
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Which of the following is considered per se illegal under the U.S. antitrust law?
a. An agreement to fix prices of commodities. b. An agreement to maintain certain technical standards. c. An agreement to operate only in specific regions. d. An agreement to follow identical production technique.
Suppose the market supply is initially at S1 and a price ceiling is set at 8. If supply shifts from S1 to S2, then
A. The price ceiling will no longer bind. B. The market will not reach equilibrium. C. The size of the shortage will increase. D. The price ceiling will prevent output from changing.