The major antitrust acts of the United States include:
- Sherman Act of 1890
- Clayton Act of 1914:
- Federal Trade Commission Act of 1914
Antitrust law refers to the collection of governmental laws that help in the regulation of businesses in order to prevent monopoly and improve competition.
The major antitrust acts include:
- Sherman Act of 1890: Every form of contract or conspiracy regarding trade restraint was outlawed.
- Clayton Act of 1914: It was passed by Congress in 1914. Unethical business practices were outlawed. Monopolies and price-fixing were banned.
- Federal Trade Commission Act of 1914: It was put into law by President Wilson in order to prevent the unfair method of competition and illegal acts that disrupts commerce.
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Answer:
D. Because television advertising is more expensive
Explanation:
Advertisement on the TV involves making a video that has to be of specified standards. Making the video is costly. After making the video, a company has to buys advertising time with media houses which, is also expensive.
Online or internet advertising is cost-effective. Many popular social media sites allow users to post advertisement messages for free.
Answer:
D) It is more economical for Baurisians to import meat than grain.
Explanation:
The argument states that meat consumption in Baurisia is steadily increasing while domestic production is not.
There are two alternatives:
- import more grains to feed more animals and produce more meat (the argument favors this option),
- or simply import more meat.
But if importing meat is cheaper than importing grains, then there is no need to import more grains in order to feed animals and later get meat from them, you just simply and directly import meat.
Answer:
Competitors who enter the market will temporarily face higher unit costs.
2. Usually none of the companies would make much profit in this situation.
Explanation:
Penetration pricing is a pricing strategy where the sellers of a new product set the price for their product unusually low. This is to entice consumers to purchase the product
Advantages of penetration pricing
- it increases market share of the firm conducting the penetration pricing
- it increases the sales of the firm practicing the penetration pricing
Disadvantages of penetration pricing
- Profit earned by the company might be too low
- once a low price has been set for the good, it might be difficult to raise it later as it may drive consumers away.
Price skimming is when the price of a new product is set usually high
