The Robinson-Patman Act Makes It Illegal for a Business Entity

question 4

Multiple Choice

The Robinson-Patman Act makes it illegal for a business entity to discriminate in price "between different purchasers of commodities of like quality or grade." In order to violate this act,the business must

• A) make sales at different prices to at least three different purchasers.
• B) make one sale of a different price to a purchaser.
• C) make two or more sales to different purchasers at different prices.
• D) give different price quotes to different purchasers.

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Definitions:

Total Asset

The sum of a company's current and non-current assets, representing the company’s total owned resources.

Annual Sales

The total revenue a company generates from its operations over a one-year period.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue, indicating the financial performance in a given period.

Total Revenue

Total Revenue is the full amount of income generated by the sale of goods or services related to a company's primary operations.