Violations of Provisions of the Competition Act May Be Addressed

question 34

Multiple Choice

Violations of provisions of the Competition Act may be addressed in which of the following ways?

• A) Injured parties may sue for damages suffered and, under the penalty provisions, may recover up to three times the amount of damages in some circumstances.
• B) When a reviewable activity has been confirmed, the Competition Tribunal may order its cessation or apply another legislated remedy.
• C) An activity will only be held to be a violation if it is shown that the particular activity has the effect or the established purpose of substantially lessening or eliminating competition in an area.
• D) Violations would not be subject to prosecution if they relate to goods sold by a monopoly at prices under the control of a government commission.
• E) All of the responses are correct.

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Definitions:

Total Fixed Costs

The sum of all costs that do not change with the level of output produced by a business, such as rent, salaries, and insurance.

The Barber Shop

This term commonly refers to a place where men can get their hair cut and sometimes other grooming services, serving as a social hub in many communities.

Fixed Input

A resource used in production that cannot be changed in the short term, such as buildings and machinery.

Short Run

A time period in economics during which at least one input, such as plant size or capital, is fixed and cannot be changed.