Question

What are antitrust laws? Laws governing the management of state-owned enterprises. Legislation enacted to prevent the encroachment of government into the private sector. Laws meant to protect businesses from unfair treatment from consumers. Laws meant to eliminate collusion and promote competition among firms. Identify the first antitrust law and its purpose. The Clayton Act of 1950 toughened restrictions on mergers by prohibiting any merger that leads to reduced competition. The Federal Trade Commission Act of 1914 established the FTC. The Robinson-Patman Act of 1936 prohibited anticompetitive price discrimination. The Sherman Act of 1890 prohibits price fixing, collusion, and monopolization. The Clayton Act of 1890 prohibits firms from owning stock in competing firms. The Sherman Act of 1914 established the Federal Trade Commission.

Answer 1

Answer: 1. Laws meant to eliminate collusion and promote competition among firms.

2. The Sherman Act of 1890 prohibits price fixing, collusion, and monopolization.

Step-by-step explanation:

1. Anti-trust laws are meant to protect the customer from predatory practices by businesses such as collusion hence ensuring that there is competition in the market for the benefit of the consumer.

2. Named after the man who introduced it, Sen. John Sherman, the Sherman Act was passed in 1890 as the first Anti-trust law in the United States of America. It was meant to ensure that competition existed between Enterprises for the benefit of ordinary citizens.