Answer the following statement true (T) or false (F)
1) The Celler-Kefauver Act made vertical mergers legal, provided each firm does not have more
than 30 percent of its relevant market.
2) The legal cartel theory indicates that, in any industry where market demand and the long-run
average total cost curve intersect close to the latter's minimum, government regulation is mandatory and desirable.
3) The Consumer Product Safety Commission engages in social regulation, rather than industrial
regulation.
4) The Americans with Disabilities Act of 1990 is an example of industrial regulation.
1) F
2) F
3) T
4) F
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If the number of sellers decreases, then the supply curve ________ and the supply ________
A) shifts rightward; increases B) shifts leftward; decreases C) does not shift; does not change, but there is a decrease in the quantity supplied D) shifts leftward; increases E) shifts rightward; decreases
Can information life-span be a determining factor in deciding which organization structure is superior?
Which of the following is an accurate definition of a market?
a. a specific place where stocks are bought and sold b. a specific place where companies exchange goods c. a process of buyers and sellers exchanging goods and services d. a process of companies setting their preferred price
________ is (are) paid regardless of a person's income from other sources and regardless of assets.
A. The earned income tax credit B. Unemployment benefits C. Medicaid D. SNAP benefits