After firm A producing one good acquired another firm B producing another good, it raised the prices for the bundle of goods. One can conclude that the goods were
a. substitutes
b. complements
c. not related
d. None of the above
a
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Features of "Reagonomics" include all of the following except:
a. reduction in marginal tax rates. b. increased government expenditures for defense. c. deregulation of business. d. regular increases in the minimum wage.
In a market system, the major coordination tasks are carried out
a. with the approval of central planners. b. as part of the regular appropriation process of Congress. c. irregularly by the major corporations. d. automatically by the market mechanism.
If the labor supply curve is nearly vertical, a tax on labor
a. has a large deadweight loss. b. raises a small amount of tax revenue. c. has little impact on the amount of work that workers are willing to do. d. results in a large tax burden on the firms that hire labor.
The "active antitrust perspective" in policy enforcement strongly espouses the following beliefs, except:
A. Firms occasionally use illegal tactics to gain over competitors B. Antitrust authorities must act like officials in a football game C. Competition and creative destruction could lead to monopolies D. When competition is insufficient, allocative inefficiencies will occur