For each of the major laws discussed in the text, indicate whether in the long run the law will promote or restrict competition (Exhibit 3–4). As a consumer without any financial interest in business, what is your reaction to each of these laws?

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Law Product Place Promotion Price Sherman Act (1890) Monopoly or conspiracy in restraint of trade Monopoly or conspiracy to control a Monopoly or conspiracy to control distribu- tion channels Monopoly or conspiracy to fix or control prices product Clayton Act (1914) Substantially less- ens competition Exclusive dealing contracts (limiting buyers' sources of supply) Forcing sale of Price discrimination by manufacturers some products with others- tying contracts Unfair policies Deceptive ads or selling prac- Federal Trade Deceptive pricing Commission Act (1914) Unfair methods of competition tices Robinson-Patman Prohibits "fake" Prohibits price discrimi- nation on goods of "like grade and quality" with- out cost justification, and limits quanitity discounts Act (1936) Tends to injure competition advertising allowances or discrimination in help offered Wheeler-Lea Deceptive packaging or branding Deceptive ads or selling claims Deceptive pricing Amendment (1938) Unfair or deceptive practices Antimerger Act (1950) Lessens Buying competitors Buying producers or distributors competition Magnuson-Moss Act (1975) Unreasonable practices Product warranties