Federal Trade Commission Authorization Act of 1983

[AI summary unavailable — showing source text] Federal Trade Commission Authorization Act of 1983 - Amends the Federal Trade Commission Act to revise the definition of "unfair act or practice" to include any act or practice that causes or is likely to cause substantial injury to consumers. Stipulates that such a "substantial injury" be not reasonably avoidable by consumers and not outweighed by countervailing benefits to consumers or competition resulting from the act or practice. Permits the court to review certain cease and desist orders made by the Federal Trade Commission (FTC). Limits the authority of the FTC to find a method of competition unfair if, in any action under the Sherman Act, such method would be held to constitute State action. Authorizes the FTC to issue notice of proposed rulemaking with respect to any unfair or deceptive act or practice or false advertisement, only if it has issued two or more cease and desist orders or it believes a pattern of unfair and deceptive acts or practices or false advertisements exists. Extends the civil investigative demand procedures to the FTC's antitrust authority. Prohibits the FTC from studying, investigating, and prosecuting agricultural cooperatives for certain conduct. L…