Question: Please answer the following questions. In doing so, please state the rule, law, statute, legal theory, or precedent that you used in arriving at your

Please answer the following questions. In doing so, please state the rule, law, statute, legal theory, or precedent that you used in arriving at your answer. You do not have to answer in complete sentences, but yes or no answers (without further elaboration) will receive no credit.

  1. Michael and Gob run competing frozen banana stands. Together they control 99% of the southeastern frozen banana market. The two get together and decide that they will both set the prices of their bananas at $5.00. Is their arrangement legal, why or why not?

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