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Antitrust Laws in Business Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. A former employee sued his company for patent infringement. He claimed that they were trying to establish a monopoly and that they cost him his life's savings. The jury ruled in his favor and decided the company needed to pay him $20 million. The court chose to use a provision of the Clayton Act called treble damages, meaning that the company had to pay _____.

Question 2 2. One of the most important purposes of the Sherman Antitrust Act is to:

Question 3 3. Highway Motel and Motel Vagabond are the only two hotels on Route 1A. A snow storm is predicted for Saturday night. Knowing that the highway may be impassable, the two innkeepers decide to raise their prices from $39.00 a night to $149.00 a night. Why is this an example of price fixing?

Question 4 4. Sampson Industries manufacture a car powered by cooking oil. You only need corn oil to run the car. However, when a customer purchases a car, they are forced to agree to purchase oil from Sampson and no other seller. This an example of a _____.

Question 5 5. A horizontal agreement is between:

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Question 6 6. Sam, Mike, and Maurice all own drywall companies. They want to be able to win every bid. They decide that one of them will submit a low bid, while the other two submit higher prices. They take turns doing this, so each of them will get the job at some point in time. What is this called?

Question 7 7. Flip's Burgers only sells Yum-A-Roo brand sodas. This is considered:

Question 8 8. Technoprinters developed a new printer that everyone wants. The printer can only use the ink cartridges that they manufacture. As a result, people must buy complementary products from them. Why is this illegal?

Question 9 9. A vertical agreement is between:

Question 10 10. The act that regulates fair competition by enlisting the help of the Federal Trade Commission is the:

Antitrust Laws in Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Business 108: Business Ethics  /  Business Courses
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