U.S. antitrust laws view monopolies as undesirable because
A) monopolies restrain trade and promote inefficiencies.
B) monopolies create inferior products.
C) monopolies produce only capital goods.
D) monopolies produce only cheap, low quality goods.
A
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Price-taking producers have horizontal marginal revenue curves.
Answer the following statement true (T) or false (F)
Which of the following statements is true?
A) A rational economic agent is not likely to optimize. B) Cost-benefit analysis can also be used for normative economic analysis. C) Cost-benefit analysis does not yield the same result as optimization analysis. D) The net benefit of an option that costs $50 and provides a benefit of $100 is equal to $150.
According to economic theory, which of the following types of discrimination is the easiest to eliminate?
A. Discrimination that saves the firm money B. Discrimination based on correctly perceived statistical characteristics of a group C. Discrimination based on individual characteristics that do not affect job performance D. Discrimination based on individual characteristics that affect job performance
GDP and real GDP are ways to measure
A. economic output. B. inflation. C. market equilibrium. D. disinflation.