USCPA每日一练之REG【2015-11-28】

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Which of the following would be a horizontal agreement to fix prices and thus be illegal per se under Section 1 of the Sherman Act?

I. An agreement between several sellers of lumber to no longer sell on credit to purchasers.

II. An agreement between two sellers of lumber to set a maximum price for what they will charge for lumber.

III. An agreement between a lumber wholesaler and a lumber retailer that the retailer will charge at least $8.00 for a particular piece of lumber.

a. I only.

b. I and II only.

c. I, II, and III.

d. None of these agreements is illegal per se.

Answer:B

A horizontal agreement is an agreement between competitors. I and II satisfy that requirement; III is a vertical agreement between a wholesaler and a retailer. Additionally, vertical price fixing is not illegal per se. Agreements to fix prices include agreements that directly affect price, such as a refusal to provide credit. Horizontal price fixing is illegal per se, regardless of whether the agreement is to set a minimum price or a maximum price.

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