Solved

Scenario 11

question 252

Multiple Choice

Scenario 11.4 Use the following to answer the questions.
Kaycee Petit needed to find a new company to prepare her tax return this year. Kaycee looked in the yellow pages of the phone book, and went on the Internet to find information about any tax preparers in the area. She found the names and numbers of several accountants, as well as the popular HR Block and Jackson Hewitt. Since Kaycee had a somewhat complicated financial situation, she decided on using an accountant rather than the two popular companies. Kaycee found the websites of three of the accountants, but the other two were not on the Internet. She visited the offices of the three accounts who had websites. The first office was in a somewhat "seedy" part of town, but had a nice interior and a receptionist. The second office was in a nicer part of town, but did not have any employees other than the accountant, and had old furniture and old carpet. The third office was all around in better condition and Kaycee felt better about its accountant, so she decided on him.
Refer to Scenario 11.4. The accountant who Kaycee chose to prepare her taxes will most likely require her to schedule an appointment due to the ____ characteristic of the service. If Kaycee schedules an appointment during the month of February, the accountant will most likely use ____ when charging for the service.

Definitions:

Criminal Penalties

Punishments imposed by law for the commission of a crime, which may include fines, imprisonment, or other forms of punishment.

Clayton Act Section 7

A provision of the Clayton Antitrust Act that prohibits mergers and acquisitions when the effect may be substantially to lessen competition, or to tend to create a monopoly.

Anticompetitive Effect

Any action, law, or policy that reduces the level of competition in a market, potentially leading to harmful effects such as higher prices or reduced innovation.

Relevant Market Definition

The identification of the bounds of competition including both the geographic and product spaces in which firms compete.