Most economists agree that, overall, U.S. antitrust policy has been most successful in:
A. Promoting competition and efficiency
B. Remedying existing anticompetitive behavior
C. Deterring price-fixing and anticompetitive mergers
D. Breaking up monopolies
C. Deterring price-fixing and anticompetitive mergers
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From 1981 to 2011, the unemployment rate in the United States
A) was always lower than the unemployment rate in Japan. B) almost always equaled the unemployment rate in Canada. C) generally rose while the unemployment rate in the Eurozone fell. D) was generally lower than the unemployment rate in the Eurozone. E) was usually higher than the unemployment rate in Canada.
The Santa Fe Spark Plug Company supplies spark plugs to automotive parts dealers. An increase in the demand for its product led Santa Fe to hire 150 new workers
Santa Fe also plans to expand the capacity of its plant but this project will take 2 years to complete. Which of the following statements is true? A) The long run for Santa Fe is longer than 1 year. B) The wages and benefits paid to the new workers are implicit costs. C) In the short run Santa Fe's variable costs increase but its fixed costs decrease. D) The short run for Santa Fe is 1 year.
Ceteris paribus, explain why it is that when a lower ceiling price is imposed below equilibrium price, a greater deadweight loss results
When marginal revenue is positive, demand is:
A. unit elastic. B. elastic. C. inelastic. D. There is not sufficient information to classify the elasticity of demand.