More than 80 percent of the home heating oil used in the United States goes to the Northeast. In Vermont, the vast majority of people there use oil to stay warm when it's cold outside.
Richard Izor heats his home with oil and inquires, I'd like to see them come in and put a ceiling on the oil price now before it gets any higher. Why they haven't done this is more than I can understand. Which of the following is NOT likely to occur if such a price ceiling was imposed? A) There would be a surplus of heating oil.
B) A heating oil shortage may occur.
C) A black market for heating oil may be created.
D) There would be an increase in inefficiency in the heating oil market.
Question 2
Which of the following business practices, if proven to exist, is always illegal under U.S. antitrust law?
A) tying arrangements
B) price fixing among competitors
C) exclusive dealing
D) all of the above
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