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Which of the following prohibits price discrimination the sherman act the clayton act the federal trade commission act or the full employment and balanced growth act?
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∙ 12y ago
The Clayton Act
Critics of the Sherman Act, including famous trust-buster President Teddy Roosevelt, felt the ambiguity of the Sherman Act was an impediment to its use and that the United States needed a more detailed law setting out a list of illegal activities. The Clayton ActClayton ActSecond major U.S. antitrust law; prohibits various behaviors leading to a lessening of competition., 15 U.S.C. §§ 12-27, was passed in 1914 and it adds detail to the Sherman Act. The same year, the FTC Act was passed, creating the Federal Trade Commission (FTC)Federal Trade Commission (FTC)Federal government agency that enforces the antitrust laws, along with the U.S. Department of Justice (DOJ), and provides consumer protection., which has authority to enforce the Clayton Act as well as to engage in other consumer protection activities.
The Clayton Act does not have criminal penalties, but it does allow for monetary penalties that are three times as large as the damage created by the illegal behavior. Consequently, a firm, motivated by the possibility of obtaining a large damage award, may sue another firm for infringement of the Clayton Act. A plaintiff must be directly harmed to bring such a suit. Thus, customers who paid higher prices or firms that were driven out of business by exclusionary practices are permitted to sue under the Clayton Act. When Archer Daniels Midland raised the price of lysine, pork producers who bought lysine would have standing to sue, but final pork consumers who paid higher prices for pork, but who didn't directly buy lysine, would not.
Highlights of the Clayton Act include:
Section 2, which prohibits price discrimination that would lessen competition
Section 3, which prohibits exclusionary practices, such as tying, exclusive dealing, and predatory pricing, that lessen competition
Section 7, which prohibits share acquisition or merger that would lessen competition or create a monopoly
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∙ 12y ago
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