Which of the following is true of the Sherman Act?
A) The Sherman Act applies only to the sale of goods.
B) Price fixing in the service sector is permitted under the Sherman Act.
C) Maximum-price agreements are illegal, while minimum-price agreements are not.
D) The Sherman Act covers services, including those performed by the learned professions.
E) An action is not considered to be price fixing if the prices fixed are fair or reasonable.

Question

Quizplus · Accepted Answer

In the mid-1970s, the Supreme Court held that the Sherman Act covers services, including those performed by the learned professions such as attorneys-at-law. Today, it is just as illegal to fix the price of services as it is to fix the price of goods.

Which of the Following Is True of the Sherman Act