The Argument That a Large Firm Dominating an Industry Will

question 138

Multiple Choice

The argument that a large firm dominating an industry will not necessarily act like a monopolist, as expressed in the 1920 U.S. Steel case, suggests that the application of antitrust laws should be based on firm

• A)behavior.
• B)structure.
• C)efficiency.
• D)concentration ratios.

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Definitions:

Defective

Refers to a flaw or imperfection in a product or service that makes it unsafe or unsuitable for its intended use.

Dishonors

The refusal or inability of a bank to pay a check or draft when presented for payment.

Insufficient Funds

A situation where an account does not have enough money to cover transactions.

Liable

Liable means responsible by law; legally answerable.