If we know that the area between the Lorenz curve and the diagonal is 2,500, and the area of the square (the triangles above and below the diagonal) is 10,000 . then the Gini coefficient is
a. 0
b. 0.25
c. 0.50
d. 0.75
e. 1.0
C
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The second federal antitrust law was passed in 1914. This antitrust law is the
A) Clayton Act. B) Robinson-Patman Amendment. C) Cellar-Kefauver Amendment. D) Taft-Hartley Act.
According to the matrix shown, the outcome of the "game" will be:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. both firms will collude and act like a joint monopolist.
B. both firms will compete.
C. Firm A will compete and Firm B will collude.
D. Firm B will compete and Firm A will collude.
Assuming that Pepsi-Cola and Coca-Cola are substitutes, a rise in the price of Pepsi-Cola, other things being equal, results in a(n):
a. upward movement along the demand curve for Coca-Cola. b. downward movement along the demand curve for Coca-Cola. c. leftward shift in the demand curve for Coca-Cola. d. rightward shift in the demand curve for Coca-Cola.
Which of the following would be illegal under the Robinson-Patman Act? a. Ford and General Motors meet to fix the price of cars. b. Computer makers form a cartel. c. General Mills and Kelloggs decide to merge. d. Exxon sells gas at a higher wholesale price to independent gas retailers than to Exxon retailers
e. Exxon Oil and Mobil Oil elect the same person to their boards of directors.