In order for antitrust laws to raise social welfare, the government must
a. disallow synergy benefits from accruing to monopolists.
b. disallow any mergers from taking place.
c. be able to determine which mergers are desirable and which are not.
d. always attempt to keep markets in their most competitive form.
c
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What is a Nash equilibrium? How is a Nash equilibrium different from a dominant strategy equilibrium?
What will be an ideal response?
A tax elasticity of supply equal to 0.21 indicates that
A. Workers will cut back on the number of hours worked if tax rates increase. B. Employers will hire more workers if tax rates increase. C. Employers will not hire any workers if tax rates increase. D. Workers will not cut back on the number of hours worked if tax rates increase.
What percentage of Americans will find a new job within 14 weeks of being unemployed?
a. 27.8
b. 35.7
c. 63.5
d. 78.4
Which of the following would result if Greece decided to order all Greek banks to convert euro-denominated accounts to drachma-denominated accounts?
A. A deflation would occur in the economy of Greece. B. Domestic consumers in Greece would prefer imported goods. C. The purchasing power of drachma would decline. D. The value of euros would decline relative to the value of drachmas.