1. A business defendant may rebut a per se violation of restraint of trade by showing that the activity is beneficial to consumers.True or False2.There is no civil cause of action for parties who are injured when companies violate federal antitrust lawsTrue or False3. To be guilty of violating the Sherman Act, a business must actually possess monopoly power; simply attempting to gain monopoly power is not a violation of the Sherman ActTrue or False4. An ____ exists when a buyer agrees to purchase all of its requirements from a single seller5. The ____ believes that the primary goal of antitrust laws should be to protect competitors6. Cost justification is not currently recognized as a defense to price discriminationTrue or False7. Monopoly power does not exist if a business has ____ percent or less of the market share8. In a consent decree, a company charged with antitrust violations agrees to change its behavior, but does not admit to guilt.True or False9. An individual who is found guilty of violating the Sherman Act may be imprisoned for up to 10 years and fined up to $10 million dollarsTrue or False10. Monopoly power is presumed to exist if a business has more than ____ percent of the market share.11. The ability of a firm to fix prices unilaterally is called ____ .12. How many competitors must agree to engage in a horizontal group boycott to meet the “concerted action” requirement of the Sherman Act?13. A firm’s practice of predatory pricing can be used to show its intent to acquire monopoly power.True or False14. The ____ is a powerful administrative agency charged specifically with protecting consumers against deceptive practices and enforcing antitrust laws.15. Congress and courts have granted certain activities and industries exemptions from federal antitrust lawsTrue or False16. The Traditional school of antitrust theory believes that the overriding objective of antitrust law is to promote competition.True or False

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