BuyFind

Microeconomics

13th Edition
Roger A. Arnold
Publisher: Cengage Learning
ISBN: 9781337617406
BuyFind

Microeconomics

13th Edition
Roger A. Arnold
Publisher: Cengage Learning
ISBN: 9781337617406

Solutions

Chapter
Section
Chapter 12, Problem 1QP
Textbook Problem

Why was the Robinson–Patman Act passed? The Wheeler–Lea Act? the Celler–Kefauver Antimerger Act?

Expert Solution
To determine

Explain the reason for the enactment of Robinson–Patman Act, the Wheeler–Lea Act, and the Celler–Kefauver Antimerger Act.

Explanation of Solution

Robinson–Patman Act is one of the provisions, which constitutes the U.S. antitrust policy that is passed in 1936. The basic purpose of enacting Robinson–Patman Act is to reduce the failure rate and prevent small sellers from the larger sellers from offering a different price to a different customer, unreasonably lowing prices and growing the chain stores.

Wheelers–Lea Act is one of the provisions, which constitutes the U.S. antitrust policy that is passed in 1983. The basic purpose of enacting Wheelers–Lea Act is to authorize the power to take action against deceptive and unfair methods of trade proactive like false advertisement and provide misleading information.

Celler–Kefauver Antimerger Act is one of the provisions, which constitutes the U.S antitrust policy that is passed in 1950. The basic purpose of enacting Celler–Kefauver Antimerger Act is to prohibit mergers by the sale of physical assets, if the effect is to significantly limit the competition.

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