The Celler-Kefauver Act of 1950:
a. amended the Sherman Act to outlaw price fixing where the effect is to lessen competition
b. created the Interstate Commerce Commission.
c. prohibited conglomerate mergers where the effect is to lessen competition.
d. prohibited a firm from acquiring the assets of another firm where the effect is to lessen competition.
d
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What is one reason online prices might be considerably lower than brick-and-mortar prices?
A) Online retailers engage in more price discrimination. B) Brick-and-mortar retailers engage in more price discrimination. C) Brick and mortar retailers may have higher costs. D) Online retailers are more likely to have steep demand curves.
Foreign exchange market intervention is most effective when:
a. each country's political leaders agree to cooperate fully with the process. b. leading economists in each country believe that intervention is needed. c. permanent differences between the free market exchange rate and the fixed exchange rate are expected. d. temporary differences between the free market exchange rate and the fixed exchange rate are expected. e. all the countries restrict the international movement of goods and services.
?All of these are characteristics of a competitive industry, except:
a. Many substitutes
b. No barriers to entry
c. Homogenous product
d. Little or no information on rivals' products
If corn is an input into the production of ethanol, will a decrease in the price of corn increase the supply of ethanol or decrease the supply of ethanol?