Corporations Did Not Fight Harder to Prevent Adoption of the Sherman

question 62

Multiple Choice

Corporations did not fight harder to prevent adoption of the Sherman Act of 1890 because

• A) the act applied to so few industries.
• B) the act was so vague.
• C) enforcement of the act was left to local government, which was controlled by the corporations.
• D) the act covered only price discrimination and not restraint of trade.
• E) the act applied to so few practices.

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Definitions:

Net Income

The total profit of a company after all revenues, costs, and expenses have been deducted, often referred to as the bottom line.

Sales

The transactions involving the exchange of goods or services for money, constituting the primary revenue source for most businesses.

Variable Manufacturing Costs

Costs that vary directly with the level of production output, such as raw materials and direct labor costs.

Fixed Manufacturing Costs

Overheads or expenses that do not change with the level of production, such as rent and salaries.