Which of the Following Statements Is True of Price Fixing

question 51

Multiple Choice

Which of the following statements is true of price fixing?

• A)It represents a high level of competition in an industry.
• B)It is allowed only under the provisions of the Federal Trade Commission Act.
• C)It is,by definition,illegal,as there is no justification for it.
• D)It occurs only in monopolistically competitive industries.
• E)It is legal in United States.

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Definitions:

White-Collar Crimes

Are illegal acts committed by respectable, high-status persons in the course of their work.

Class

A system of categorizing society into groups based on socioeconomic status, sharing similar levels of wealth, educational attainment, and occupation.

Crime

An action or omission that constitutes an offense and is punishable by law.

Merton's Theory

A sociological theory developed by Robert K. Merton, which addresses the ways that societal structures may lead to certain behaviors among individuals, particularly focusing on deviance and anomie.