Which of the following are illegal under the antitrust laws of the United States?
a. charging prices that exceed average total costs
b. charging some consumers different prices than others
c. mergers that unnecessarily create excessively large firms
d. collusive behavior or other actions designed to create a monopoly or cartel
D
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What does the area labeled A show?
a. increase in revenue due to change in quantity
b. decrease in revenue due to change in quantity
c. increase in revenue due to change in price
d. decrease in revenue due to change in price
The following provides information for a one-shot game.Firm AFirm B??Low PriceHigh Price?Low Price(2,2)(10,-8)?High Price(-8,10)(15,15)What are secure strategies for firm A and firm B respectively?
A. (high price, high price) B. Neither firm has a secure strategy. C. (high price, low price) D. (low price, low price)
Suppose that your firm's marginal cost of producing a pencil is 5 cents and the average cost of producing a pencil is 3 cents. If your firm is interested in minimizing average total costs, what should your firm do?
A. Increase production. B. Decrease production. C. Maintain production at the current level. D. Look for ways to increase fixed costs.
According to traditional Keynesians, monetary policy as a tool to fight a recession
A. is very effective because interest rates will fall immediately. B. is ineffective because interest rates will not fall. C. has an uncertain effect on the economy, depending on the direction of fiscal policy. D. cannot be determined because traditional Keynesians do not consider monetary policy at all.