The C line is above the 45-degree line only at __________ levels of income.
Fill in the blank(s) with the appropriate word(s).
very low
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When manufacturers and distributors establish credible commitments to one another, they often employ
a. vertical requirements contracts b. third-party monitoring c. credible threat mechanisms d. non-price tactics
Which of the following statements is true?
a. To maximize profits, a firm must maximize total revenue. b. In long-run equilibrium, a competitive firm produces at the point of minimum average total cost. c. In the short-run, a perfectly competitive firm produces where total cost is minimum. d. In the short-run, a perfectly competitive firm will close down whenever price is less than average total cost.
Which of the following laws was enacted to forbid monopolization and attempts to monopolize?
a. The Anti-Monopoly Act b. The Sherman Antitrust Act c. The Trade Act d. The National Banking Act e. The Celler-Kefauver Act
In Exhibit 11 the expansion phase of the business cycle is represented by points
a. A and C.
b. B and F.
c. B and D.
d. C and G.