The marginal revenue received by a perfectly competitive firm is greater than the price of a good
a. True
b. False
Indicate whether the statement is true or false
False
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If Caterpillar Inc raises the price of earth-moving equipment that it manufactures in Illinois, then the CPI will ________ and the GDP deflator will ________
A) increase; increase B) increase; increase by less than the CPI C) increase; not change D) not change; not change E) not change; increase
When comparing the banking crisis in the United States to the crises in Latin America, cost to the taxpayers of the government bailouts was
A) higher in Latin American than in the United States. B) higher in the United States than in Latin America. C) about the same in both Latin America and the United States. D) positive in Latin America but negative in the United States.
The stable outcome of the game in the figure shown will be:
A. Nike charges a high price, and Adidas charges a low price.
B. Nike charges a low price, and Adidas charges a high price.
C. Nike and Adidas both charge a low price.
D. Nike and Adidas both charge a high price.
Which of the following U.S. antitrust laws prohibits mergers through the acquisition of a firm's assets if the merger would lessen competition?
a. the Sherman Antitrust Act b. the Clayton Act c. the Robinson-Patman Act d. the Celler-Kefauver Anti-Merger Act e. the Federal Trade Commission Act