3. The rule of reason and the per se rule in antitrust law
True or False: The laws aimed at preventing anticompetitive practice are termed "antitrust" because the laws were originally developed to combat cartels whose firms had placed their assets under the control of a board of trustees.
True
False
Which of the following antitrust doctrines was established by the Alcoa case (1945)?
The rule of reason: Having a monopoly is illegal, regardless of whether or not the monopoly engages in illegal business practices.
The rule of reason: Having a monopoly is not illegal unless the monopoly engages in illegal business practices.
The per se rule: Having a monopoly is not illegal unless the monopoly engages in illegal business practices.
The per se rule: Having a monopoly is illegal, regardless of whether or not the monopoly engages in illegal business practices.

The laws aimed at preventing anti-competitive practice are termed "antitrust" because the laws were originally developed to combat cartels whose firms had placed their assets under the control of a board of trustees.

This statement is True.

In the United States, antitrust law is primarily a collection of federal laws governing corporate conduct and organization to promote competition and prevent unfair monopolies.

The Antitrust Act refers to restrictions on the concentration of economic power, particularly in relation to monopolies and other anti-competitive practices. Antitrust laws exist as both federal and state law.

Basically, these laws prohibit business practices that unfairly deprive consumers of competitive advantages and increase the price of products and services. The three most important federal antitrust laws are: Sherman Antitrust Law. Der Clayton-Act. Das Federal Trade Commission Act.

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