Assume the managers of the two major firms in an industry agree to set the price of their output at a fixed level so as to discourage new entrants into the market. This would be considered a violation of the:
A) Sherman Act of 1890.
B) Clayton Act of 1914.
C) Federal Trade Commission Act of 1914.
D) Celler-Kefauver Act of 1950.
A
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A firm uses two inputs, A and B. At its optimal choice of input proportions,
A. MRP of A = MRP of B. B. MRPA/PA= MRPB/PB. C. MPP of A = MPP of B. D. All of the responses are correct.
Inflation tax is
A) the sales tax. B) a tax on nominal goods. C) a special tax introduced in the 1970s to fight inflation. D) the revenue from seigniorage.
If H represents the number of hours spent on an activity, then which of the following could represent a total benefit function?
A. 400H - 30H2 B. 400H + 30H2 C. -400H - 30H2 D. -400H + 30H2
A _____ variable is used to incorporate qualitative information in a regression model.
A. dependent B. continuous C. binomial D. dummy