What are the two main antitrust laws and when were they enacted?
What will be an ideal response?
The two acts of Congress that make up our main antitrust law and the years of their enactment are:
a. The Sherman Act of 1890
b. The Clayton Act of 1914
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A price discriminating monopolist
A) produces more output than that produced by a single-price monopolist. B) has a lower marginal cost than that incurred by a single-price monopolist. C) makes a smaller economic profit than that earned by the single-price monopolist. D) makes zero economic profit in the long run.
A decrease in stock prices will _____ the net wealth of households and _____ consumption
a. reduce; increase b. reduce; decrease c. reduce; not change d. increase; increase e. increase; decrease
Describe what the term "full employment" means to an economist
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.