Explain the difference between a sole proprietorship and a partnership
What will be an ideal response?
A sole proprietorship is a firm owned by one person, whereas a partnership is a firm owned by two or more persons.
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Monetary Policy Shortcomings ?
Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Which of the following statements is true?
A. Lee's dominant strategy depends on Jordan's choice. B. Lee does not have a dominant strategy. C. For Lee, seeing a documentary is a dominant strategy. D. For Lee, seeing a comedy is a dominant strategy.
What do structural reform policies emphasize?
What will be an ideal response?
The antitrust legislation that forbids a company from selling goods on the condition that the purchaser must deal exclusively with that company is the
A) Sherman Act. B) Robinson-Patman Act. C) Fair Trade Commission Act. D) Clayton Act.