Anticompetitive Business Practices Are Illegal Per Se _____

question 197

Multiple Choice

Anticompetitive business practices are illegal per se _____

• A)only if there is no economic rationale for them.
• B)only if they result in a monopoly.
• C)without regard to their economic rationale or consequences.
• D)only if they are prohibited by the Clayton Act.
• E)whether or not Congress has passed legislation prohibiting them.

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Definitions:

Barrier To Entry

Elements that create barriers or obstacles, making it difficult for new entrants to join a particular market or business sector.

Economies Of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.

Long-Run Average Cost

The average cost per unit of output when all inputs, including capital, are variable and optimized.

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of product.