If There Was a Conspiracy to Fix Prices, but the Conspiracy

question 137

Multiple Choice

If there was a conspiracy to fix prices, but the conspiracy did not succeed, the government can still take the conspiring firm to court for improper conduct. This situation would be an example of

• A)the rule of reason.
• B)a cease-and-desist order.
• C)a per se violation.
• D)tying contracts.

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Definitions:

Supply Curve

A visual diagram illustrating the correlation between a product's price and the amount of it suppliers are prepared to produce.

Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded.

Cost

The amount of money, time, and resources associated with producing or acquiring goods and services.

Producer Surplus

The difference between what producers are willing to sell a good for and the price they actually receive, reflecting their benefit.