Antitrust Law: Definition, Types & Outline


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question 1 of 3

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?

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1. 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?

2. 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 _____.

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About This Quiz & Worksheet

This quiz and worksheet combo will help you assess your understanding of antitrust law. Things you'll need to know about to pass the test include the Sherman Antitrust Act, bid rigging, and treble damages.

Quiz & Worksheet Goals

These assessments will test you on the following:

  • The name of the act that regulates fair competition
  • Bid rigging
  • Exclusive deals
  • The Sherman Antitrust Act
  • Treble damages

Skills Practiced

  • Making connections - use knowledge of antitrust law to understand its impact on maintaining a fair marketplace for competing businesses and consumers
  • Critical thinking - apply relevant concepts to examine information about antitrust law in a different light
  • Defining key concepts - ensure that you can accurately define main phrases, such as bid rigging and price fixing
  • Knowledge application - use your knowledge to answer questions about antitrust acts

Additional Learning

To learn more about this area of law, review the corresponding lesson on Antitrust Law. This lesson covers the following objectives:

  • Define antitrust law
  • Learn about key terms including price fixing, monopoly, market share, and market allocation
  • Discuss antitrust acts