A major fruit juice manufacturer failed in its attempt to engage in price discrimination between students and all other consumers. What is a possible explanation for this failure?
a. There was nothing to prevent the students from reselling the fruit juice to other consumers.
b. The fruit juice manufacturer produced in a perfectly competitive market.
c. The two groups of consumers probably have the same demand elasticity for fruit juice.
d. The cost of producing the product is relatively high.
e. Demand for fruit juice is probably inelastic.
Question 2
Under the rule of reason, a U.S. firm with an 80 percent market share
a. will always be found in violation of the Sherman Antitrust Act
b. will never be found in violation of the Sherman Antitrust Act
c. may be found in violation of the Sherman Antitrust Act, depending on the firm's conduct
d. will always be found in violation of the Sherman Antitrust Act if there is only one other firm in the industry
e. will be found in violation of the Sherman Antitrust Act only if there is only one other firm in the industry
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