Which of the Following Laws Focuses on Price Discrimination on Goods

question 297

Multiple Choice

Which of the following laws focuses on price discrimination on goods of "like grade and quality" without a cost justification?

• A) The Fair Prices Act
• B) The Robinson-Patman Act
• C) The Federal Trade Commission Act
• D) The Magnuson-Moss Act
• E) There are no laws regulating price discrimination.

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Definitions:

Frequency Distribution

A statistical representation showing the number of instances in which a variable takes each of its possible values.

Linear Regression Line

A line that approximates the points on a scatterplot which can be used to show a trend and make predictions; also called a line of best fit or least squares line.

Scatterplot

A graph that shows the relationship of bivariate data using points on the coordinate grid.

Percentile Rank

Percentile Rank represents the percentage of scores in a distribution that a specific score is higher than or equal to, used to compare individual performance within a group.