The Clayton Act is an example of
a. social regulation
b. economic regulation
c. Herfindahl regulation
d. antitrust regulation
e. public utility regulation
D
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In Figure 11.1, a decrease in the marginal propensity to consume is represented by a change in the consumption function from
A) C1 to C3. B) C3 to C1. C) C2 to C1. D) C1 to C2.
A ____ total cost function implies that marginal costs ____ as output is increased
a. linear; increase linearly b. quadratic; increase linearly c. cubic; increase linearly d. a and b e. none of the above
Cartels are difficult to maintain because: a. there are generally few barriers to entry in oligopoly markets. b. firms have a strong private incentive to cheat on agreements. c. it is difficult to enforce a cartel agreement
d. both (b) and (c).
In monopolistic competition there:
A. is only one buyer. B. are only a few sellers. C. are many sellers. D. is only one seller.