The Celler-Kefauver Act of 1950

question 39

Multiple Choice

The Celler-Kefauver Act of 1950

• A) declared every contract or conspiracy to restrain trade illegal.
• B) outlawed specific monopolistic behaviors such as tying contracts, price discrimination, and unlimited mergers.
• C) extended the language of the Federal Trade Commission Act to include "deceptive" as well as "unfair" competition methods.
• D) extended the government's authority to ban vertical and conglomerate mergers.

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Definitions:

Function

A mathematical relation in which each element of a domain is associated with exactly one element of a range.

Production Function

An equation or graph that represents the maximum output that can be produced with a given set of inputs, showing the relationship between input and output levels in the production process.

Factors Of Production

The inputs used in the production of goods or services in the attempt to make an economic profit, including land, labor, capital, and entrepreneurship.

Input

Resources used in the production process, including labor, capital, materials, and energy.