5 The Sherman, Clayton, and Federal Trade Commission Acts form the foundation of antitrust policy in the

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5 The Sherman, Clayton, and Federal Trade Commission Acts form the foundation of antitrust policy in the United States. The Sherman Act prohibits conspiracies to restrain trade and/or monopolize an industry. The Clayton Act prohibits specific business practices, such as price discrimination, tying contracts, exclusive dealings, and mergers and acquisitions (as amended), when they "substantially lessen competition or tend to create a monopoly." As it has evolved through the years, the Federal Trade Commission is concerned primarily with enforcing consumer protection legislation, prohibiting deceptive advertising, and investigating industrial structure.

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Essentials Of Economics

ISBN: 396414

2nd Edition

Authors: James D Gwartney; Richard Stroup; J R Clark

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