The market mechanism assures full employment and stable prices
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 4-2. What area represents the decrease in producer surplus when the market price falls from P2 to P1?
A) B + D B) A + B C) C + E D) A + C + E
Why does our government enforce antitrust legislation?
A) because monopolies are known to be unfair to their stockholders B) because monopolies are known to be unfair to their employees C) because the government wants to create competition in markets in the interests of promoting efficiency D) because the government wants to create competition in markets in the interests of promoting an equal distribution of income
The Federal Trade Commission was established in 1914 to
A) regulate trade of public goods. B) promote competition in interstate commerce. C) investigate unfair competitive practices. D) prevent non-price competition.
When deciding what price to charge customers, a firm may choose to charge different prices based on customers'
a. Age b. Willingness to pay c. Location d. All of the above