Question

As a result of Standard Oil Trust's control of the oil industry, which of the following statutes was enacted?

	a.	Chicago School Act
	b.	Robinson-Patman Act
	c.	Clayton Act
	d.	Sherman Act

Answer 1

Question : As a result of Standard Oil Trust's control of the oil industry, which of the following statutes was enacted?

Answer: (d) Sherman Act

Because, by the 1880s Standard Oil was using its large market share of refining capacity to begin integrating backward into oil exploration and crude oil distribution and forward into retail distribution of its refined products to stores and, eventually, service stations throughout the United States. Standard Oil allegedly used its size and clout to undercut competitors in a number of ways that were considered "anti-competitive," including underpricing and threats to suppliers and distributors who did business with Standard's competitors.

The government sought to prosecute Standard Oil under the Sherman Antitrust Act. The main issue before the Court was whether it was within the power of Congress to prevent one company from acquiring numerous others through means that might have been considered legal in common law, but still posed a significant constraint on competition by mere virtue of their size and market power, as implied by the Antitrust Act.

The other options are inappropriate because,

(a)The Chi- cago School Reform Act of 1988 completely altered the organization and governance of the city's public schools. Many of the problems of urban public education in the U.S., and in Chicago specifically cally, stem from demographic changes within cities over the past few decades.

(b)The Robinson-Patman Act is a federal law intended to prevent price discrimination. The law prevents distributors from charging different prices to various retailers. The act only applies to interstate trade and contains a specific exemption for "cooperative associations

(c)The Clayton Act of 1914, was a part of United States antitrust law with the goal of adding further substance to the U.S. antitrust law regime; the Clayton Act sought to prevent anticompetitive practices in their incipiency.