Antitrust Law (Intro)

The video provides an overview of antitrust law, covering its history, objectives, and key legislation such as the Sherman Act, Clayton Act, and FTC Act. It explains the types of conduct regulated under these laws, including monopolies, trade restraints, and unfair practices. The video also discusses legal standards like per se illegality and the rule of reason, and outlines potential sanctions for violations, such as fines and imprisonment. Examples of prohibited conduct, such as price fixing and predatory pricing, are also provided.

What is the primary role of the Federal Trade Commission in antitrust law?

• To manage corporate taxes

• To regulate international trade

• To administer antitrust laws

• To set market prices

Which act is known for regulating contracts, combinations, or conspiracies in restraint of trade?

• Robinson-Patman Act

• Clayton Act

• Federal Trade Commission Act

• Sherman Act

What does the concept of 'per se illegality' refer to in antitrust law?

• Conduct that is always legal

• Conduct that is illegal only if it causes harm

• Conduct that is illegal regardless of its effect

• Conduct that is legal under certain conditions

Which section of the Clayton Act addresses price discrimination?

• Section 2

• Section 3

• Section 5

• Section 7

What is a potential consequence for individuals who knowingly violate antitrust laws?

• Public apology

• Loss of business license

• Incarceration

• Community service

What is an example of a tying arrangement?

• Selling two unrelated products together

• Providing a free gift with purchase

• Offering a discount for bulk purchases

• Setting a minimum purchase quantity

What is predatory pricing?

• Increasing prices during high demand

• Setting prices above market value

• Charging extremely low prices to eliminate competition

• Offering seasonal discounts