The First Major Law Created to Control the Growth of Monopoly

question 174

Multiple Choice

The first major law created to control the growth of monopoly power was the

• A) Sherman Act.
• B) Clayton Act.
• C) FTC Act.
• D) Robinson-Patman Act.

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Definitions:

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, typically resulting in the reduction of cost per unit.

Aircraft Production

The process and industry involved in designing, manufacturing, and assembling aircraft.

Newspaper Printing

The process of mass-producing copies of a newspaper document, whereby the news and other data are printed onto papers.

Economies of Scale

The cost advantage that arises with increased output of a product, where the average cost per unit decreases as the scale of production rises.