Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 19 - Antitrust Policy and Regulation - Review Questions - Page 444: 1



Work Step by Step

In the U.S. Steel case, the Supreme Court emphasized on the rule of reason according to which every monopoly is not illegal. Monopolies, until resorted to unfair and unreasonable means to curb competition and gain market power, are always legal. U.S. Steel didn't resort to illegal acts against competitors and hence is not gulity.
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