The EU's antitrust chief in November 2008 fined car glass producers Asahi, Pilkington, Saint-Gobain and Soliver more than 1.3 billion euros ($1.66 billion) for price-fixing, the largest sum ever levied by the EU for a cartel
Price fixing is a violation of ________. A) price fixing legislation
B) antitrust law
C) Federal Trade Commission
D) Division of the U.S. Department of Justice
B
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The market supply curve for music downloads is Q = 135(P-1 ) where Q is millions of downloads and P is the price in dollars per track
If the current price is $1.20 per download, what is the change in producer surplus if the price increases by $0.20 per track? A) $5.4 million B) $8.1 million C) $10.8 million D) $27 million
A monopolist produces
a. more than the socially efficient quantity of output but at a higher price than in a competitive market. b. less than the socially efficient quantity of output but at a higher price than in a competitive market. c. the socially efficient quantity of output but at a higher price than in a competitive market. d. possibly more or possibly less than the socially efficient quantity of output, but definitely at a higher price than in a competitive market.
The long run in macroeconomics is a period in which wages and prices are flexible and there is full market adjustment.
a. true b. false
Suppose there is a reduction in cash flow. This suggests that
A) firms have decreased their expectations of future profits. B) the real interest rate has increased. C) the rate of depreciation has increased. D) current profits have decreased. E) all of the above