In the U.S. Steel case of 1920, the courts held that
A) the structure of an industry is more important than its behavior in determining violations of the antitrust laws.
B) any firm that faces substantial import competition is exempt from the antitrust laws.
C) although U.S. Steel possessed monopoly power, it had not violated the Sherman Act because it had not unreasonably used that power.
D) the fact that U.S. Steel possessed monopoly power was a violation of the Sherman Act.

Question

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The court held that although U.S. Steel possessed monopoly power, it had not violated the Sherman Act because it had not unreasonably used that power. This decision established the concept of "rule of reason" for determining antitrust violations, which considers both the structure and behavior of an industry.

In the US Steel Case of 1920, the Courts Held That