A field of law that attempts to limit the ability of oligopolists to collude and restrict competition is calle?

[avikar76]

1. A field of law that attempts to limit the ability of oligopolists to collude and restrict competition is called:
A. antitrust policy.
B. product safety policy.
C. fuel efficiency standards.
D. fair trade policy.
2. In‘90, the ________ Act became the first U.S. antitrust law designed to restrict the power of monopolies.
A. Sherman Antitrust
B. Clayton
C. Federal Trade Commission
D. Robinson-Patman
3. The Clayton Antitrust Act of 1914 outlawed all of the following except:
A. conspiracy that unreasonably restrained commerce.
B. price discrimination.
C. exclusive dealing and tying arrangements.
D. anticompetitive mergers and acquisitions.
4. The Sherman Antitrust Act:
A. allowed the creation of trusts.
B. introduced the HHI measure to industries.
C. initially allowed firms to collude legally.
D. was aimed at preventing the creation of more monopolies.
5. Marginal cost pricing occurs when:
A. regulators set a monopoly's price equal to its marginal cost to achieve efficiency.
B. regulators set the price too low creating shortages.
C. when regulators set a monopoly's price equal to its average cost to achieve efficiency.
D. regulators set the price too high, increasing inefficiency.
6. The government has decided to regulate a natural monopoly so that the firm produces the perfectly competitive level of output. As a result:
A. the firm will be encouraged to reduce output and increase the price.
B. the government may need to subsidize the firm's economic losses.
C. deadweight loss will increase.
D. consumer surplus will fall.
7. Average cost pricing occurs when:
A. regulators set the price too high creating shortages.
B. regulators set a monopoly's price equal to its marginal cost to achieve efficiency.
C. regulators set a monopoly's price above its marginal cost to achieve efficiency.
D. regulators set a monopoly's price equal to its average cost to prevent the firm from incurring a loss.