As a result of a conviction under the Sherman Antitrust Act, Standard Oil of New Jersey
A. was broken up into many smaller companies.
B. was fined for its extensive price discriminating activity.
C. was restrained from oil exploration for twenty-five years, which enabled other oil firms to assume leadership in the industry.
D. went bankrupt and no longer is in existence.
Answer: A
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When a government has a budget deficit, it must issue (sell) government bonds to finance the deficit
Does it matter for the rate of inflation if the government sells the government bonds to the public or sells the government bonds to the central bank? Explain why it does or does not matter.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.