Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ________.
A) $1,000,000 B) $250,000 C) $3,000,000 D) $750,0
D) $750,0
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Which of the following is NOT necessary for a firm to engage in price discrimination?
A) The firm must be able to identify different types of buyers. B) The firm must be able to separate buyers by preventing resales from one customer to another. C) The firm must produce output for different buyers at different costs. D) The firm must sell a product that cannot be resold.
The Fed's "dual mandate" is to achieve ________
A. a government budget surplus and low interest rates B. low inflation and maximum employment C. a stable quantity of money and stable prices D. zero unemployment and a stable means of payment
Explain how firms that each produce as efficiently as they can, may not be equally productive
What will be an ideal response?
Refer to the accompanying table. According to the table, Corey has the absolute advantage in: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. delivering pizza. B. neither making nor delivering pizza. C. making pizza. D. making and delivering pizza.