The purchase of the assets of one steelmaker by another steelmaker might be a violation of the
a. Clayton Act
b. Federal Trade Commission Act
c. Wheeler-Lea Act
d. Celler-Kefauver Anti-Merger Act
e. Robinson-Patman Act
D
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If the demand curve is linear and downward sloping, which of the following statements is not correct?
a. Demand is more elastic on the lower part of the demand curve than on the upper part. b. Different pairs of points on the demand curve can result in different values of the price elasticity of demand. c. Different pairs of points on the demand curve result in identical values of the slope of the demand curve. d. Starting from a point on the upper part of the demand curve, an increase in price leads to a decrease in total revenue.
Suppose Tyler values a basketball at $20 . Jacqui values a basketball at $16 . The pre-tax price of a basketball $15 . The government imposes a tax of $2 on each basketball, and the price rises to $17 . The deadweight loss from the tax is
a. $1. b. $2. c. $3. d. $6.
Suppose a consumer buys pizza (P) and soft drinks (S). The price of pizza is $10, the price of soft drinks is $2 and the consumer's income is $100. If pizza is measured on the vertical axis and soft drinks are measured on the horizontal axis, then the consumer's budget constraint is given by:
A. P = 10 - (1/5)S B. S = 10 - (1/5)P C. P = 100 - 5S D. P = 10 - 5S
A decrease in the level of capital inside a nation would cause the:
A. aggregate demand curve to shift to the right. B. long-run aggregate supply curve to shift to the left. C. long-run aggregate supply curve to shift to the right. D. short-run aggregate supply curve to shift to the right.