Which of the following is necessarily a problem with antitrust laws?
a. They may target a business whose practices appear to be anti-competitive but in fact have legitimate purposes.
b. They may encourage firms to collude and reduce social welfare compared to the unregulated market.
c. They reduce the effectiveness of the market to self-regulate.
d. They are enforced by agencies whose self-interest contradicts the interests of society as a whole.
a
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Full-employment output is the level of output that is produced when the labor market is in equilibrium
Indicate whether the statement is true or false
For a commodity or token to be money it must
A) be accepted in exchange for all other goods and services. B) have a double coincidence of wants. C) be backed by government precious metals, like gold. D) be paper. E) be issued by the government or a government agency.
The main difference between a repo and federal funds transaction is that
A) the repo transaction uses the securities for collateral while the federal funds transaction does not have collateral. B) the federal funds transaction uses securities for collateral while the repo transaction does not have collateral. C) the repo transaction has an agreed upon interest rate while the federal funds transaction has a spread between the sale and purchase price of securities. D) the federal funds transaction is normally overnight while the typical repo agreement is for 90 to 180 days.
Given the data provided in the table below, what will the marginal cost equal for production at quantity (Q) level 4?
a. $4.00
b. $5.00
c. $3.00
d. $1.00