The primary antitrust statute in the United States is the
A. Sherman Antitrust Act of 1890.
B. NLRA of 1935.
C. Federal Reserve Act of 1913.
D. SEC Act of 1933.
Answer: A
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Prior to 1970, mortgages were ________ resold in the secondary market
A) never B) often C) rarely D) always
Suppose two Cournot duopolist firms operate at zero marginal cost. The market demand is p = a - bQ. Each firm will produce
A) a/b. B) a/2b. C) a/3b. D) a/4b.
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market, what is the equilibrium price in this market?
a. 7 b. 8 c. 9 d. 10
Answer the following statements true (T) or false (F)
1. Firms in monopolistic competition sell a similar but differentiated product. 2. All firms in monopolistic competition must sell at the same price. 3. In monopolistic competition, overall demand and supply may set a market price, but firms can deviate from that price within a small range without substantially affecting their sales. 4. The best example of monopolistic competition in the United States is the steel industry. 5. In monopolistic competition, there is no need for advertising.