#1
Which of the following is NOT a type of anticompetitive behavior?
Price fixing
Exclusive dealing
Horizontal merger
Predatory pricing
#2
Which agency is responsible for enforcing antitrust laws in the United States?
Federal Communications Commission (FCC)
Federal Reserve System (Fed)
Federal Trade Commission (FTC)
Securities and Exchange Commission (SEC)
#3
Which antitrust case led to the breakup of AT&T's Bell System in 1984?
United States v. Microsoft Corp.
Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP
Standard Oil Co. of New Jersey v. United States
United States v. AT&T
#4
What is the main objective of antitrust laws?
To eliminate all competition
To protect small businesses
To promote fair competition and protect consumers
To maximize corporate profits
#5
Which term refers to the merging of two or more companies that are direct competitors?
Vertical merger
Conglomerate merger
Horizontal merger
Market extension merger
#6
Which of the following is NOT a type of antitrust enforcement action?
Injunctions
Fines
Criminal charges
Tax breaks
#7
Which legislation was the first federal antitrust statute of the United States?
Sherman Antitrust Act
Clayton Antitrust Act
Federal Trade Commission Act
Robinson-Patman Act
#8
What does 'market concentration' refer to in antitrust regulation?
The number of firms in a market
The degree to which market power is concentrated among few firms
The size of the market
The level of competition in the market
#9
What is the 'consumer welfare standard' in antitrust law?
A legal doctrine that prioritizes the well-being of consumers over the interests of producers
A principle that assesses the impact of business practices on consumer prices and choices
A guideline that encourages businesses to maximize profits regardless of consumer welfare
A rule that prohibits any conduct that harms consumers, regardless of its impact on competition
#10
What is 'price discrimination' in the context of antitrust regulations?
Charging different prices for the same product to different buyers, where the price difference does not reflect differences in cost
A pricing strategy that involves lowering prices to drive competitors out of the market
Colluding with competitors to maintain high prices
Imposing uniform prices across all markets to eliminate price disparities
#11
Which principle guides antitrust enforcement in the European Union?
Consumer welfare standard
Efficiency standard
Rule of reason
Balancing test
#12
Which antitrust law prohibits price discrimination, exclusive dealing, and tying arrangements?
Clayton Antitrust Act
Sherman Antitrust Act
Federal Trade Commission Act
Robinson-Patman Act
#13
Which agency is responsible for antitrust enforcement in the European Union?
European Commission
European Parliament
European Central Bank
European Court of Justice
#14
What is the 'rule of reason' in antitrust law?
A principle stating that certain business practices are inherently anticompetitive
A legal doctrine that evaluates whether a restraint of trade promotes or suppresses competition
A guideline that prohibits any agreement among competitors to fix prices or rig bids
A doctrine that allows the government to challenge mergers based on their size alone
#15
Which landmark case established the 'essential facilities doctrine' in antitrust law?
Standard Oil Co. of New Jersey v. United States
Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP
United States v. Microsoft Corp.
MCI Communications Corp. v. American Tel. & Tel. Co.
#16
What is 'tying' in antitrust law?
A practice where a seller requires a buyer to purchase a separate product or service as a condition for obtaining the desired product or service
Colluding with competitors to allocate customers or territories
A merger between companies at different stages of the production process
An agreement among competitors to set a standard price for a particular product
#17
What is 'bid rigging' in antitrust law?
Colluding to manipulate the bidding process to eliminate competition
Setting artificially high prices to discourage new entrants
Offering rebates or discounts to certain customers to secure their loyalty
Selling products below cost to drive competitors out of the market
#18
What is the 'efficiency defense' in antitrust law?
A defense used to justify anticompetitive behavior by demonstrating its efficiency gains
A legal strategy to delay antitrust investigations
A doctrine that prohibits monopolies from engaging in predatory pricing
A principle that prohibits mergers between competitors
#19
What is the 'Herfindahl-Hirschman Index (HHI)' used for in antitrust analysis?
To measure the level of market concentration
To calculate consumer surplus
To assess the elasticity of demand
To determine production costs
#20
Which legal doctrine presumes that certain business practices are inherently anticompetitive and illegal?
Rule of reason
Per se rule
Efficiency defense
Consumer welfare standard