The judicial doctrine, being a monopoly or attempting to monopolize is not in itself illegal; to be illegal, an action had to be shown to have negative economic effects, is called:
a. the "big is bad" policy.
b. the per se rule.
c. predatory price-cutting policy.
d. the rule of law.
e. the rule of reason.
e
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Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. What is the value consumers place on the amount of the good they consume?
a. 60 b. 2400 c. 2800 d. 3200
When the money supply decreases
a. interest rates fall and so aggregate demand shifts right. b. interest rates fall and so aggregate demand shifts left. c. interest rates rise and so aggregate demand shifts right. d. interest rates rise and so aggregate demand shifts left.
In the absence of external shocks or government policy, an economy would
A. Still experience business cycle fluctuations because of internal market forces. B. Not be able to expand production and output. C. Not experience business cycle fluctuations. D. None of the choices are correct.
Which of the following is most likely to be an implicit cost for Company X?
A. Rental payments on IBM equipment B. Transportation costs paid to a nearby trucking firm C. Forgone rent from the building owned and used by Company X D. Payments for raw materials purchased from Company Y