It occurs when businesses agree to fix prices at an auction or manipulate bids, forcing buyers to select the higher-priced "pre-selected" bid instead of the best price. a. Price fixing b. Bid rigging c. Formation of cartel d. Price manipulation

Which of the following is true of the Sherman Act? Multiple Choice   It was intended to protect large producers.   It was passed to prohibit deceptive pricing.   It was passed after the Depression of the 1930s.   It focuses on consumer protection.   It was aimed at efforts to restrain trade or lessen competition.

As a salesperson for a large Montreal-based robotics company. you have entered into a very complex negotiation with a major machinery manufacturer. The deal is worth millions to your company. You've been sitting across the desk from a very hard-nosed purchasing manager for days now. You discover that the purchasing manager is just months away from retirement and this will probably be his last major purchase before retirement. During one of your meetings, the prospect tells you about his impending retirement and without coming out and directly asking, he makes some subtle overtures regarding what it will take to get the deal done. He strongly hints that if you would make it worth his while personally, he would arrange to get the deal done. Your guess is that he is looking for a way to supplement his retirement. Perhaps a personal cash payout or a small cottage in the country would suffice. You figure it would cost your company approximately $150 000 to get the deal done. Explain what do…

A manufacturer of motor oil has a trade discount policy whereby the manufacturer’s suggested retail price is $30 per case with the terms of 40/20/10. The manufacturer sells its products through jobbers, who sell to wholesalers, who sell to gasoline stations. What will the manufacturer’s sale price be?