You Own a Hair Salon in a College Town

question 79

Multiple Choice

You own a hair salon in a college town. Because there is competition for customers, the salons have been in a price war. You invite all salon owners to your home. They decide that the price war is hurting everyone and agree to charge standard rates for hairstyling. This arrangement is:

• A) legal because it was a voluntary arrangement
• B) legal because the price of styling hair is too low to be subject to the antitrust laws
• C) legal because it does not hurt competition
• D) legal under the rule of reason because the alternative, fewer salons, would mean less competition
• E) none of the other choices

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