ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tea Act
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Anti-Trust Act
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Townsend Act
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Monopoly Act
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Detailed explanation-1: -Passed in 1890, the Sherman Antitrust Act remains the most important source of antitrust law today.
Detailed explanation-2: -The Sherman Act, the Federal Trade Commission Act, and the Clayton Act are the three pivotal laws in the history of antitrust regulation. Today, the Federal Trade Commission, sometimes in conjunction with the U.S. Department of Justice, is tasked with enforcing federal antitrust laws.
Detailed explanation-3: -Whereas the Sherman Act only declared monopoly illegal, the Clayton Act defined as illegal certain business practices that are conducive to the formation of monopolies or that result from them.
Detailed explanation-4: -The antitrust laws prohibit conduct by a single firm that unreasonably restrains competition by creating or maintaining monopoly power.