Under Section 2 of the Sherman Act,
a. firms cannot act in ways that increase prices
b. contracts between parties are deemed binding
c. firms cannot operate in perfectly competitive markets
d. firms that earn short-run profits face penalties
e. a firm cannot attempt to monopolize an industry
E
You might also like to view...
Refer to the above diagram. All data are for the short run. Which of the following statements is correct?
A. At price P1, the firm will close down. B. Production is profitable only when price is at P2. C. Average fixed cost is P1P3 at output Q1. D. The firm will produce an output of Q1 when price is P1.
In the forex, the demand for dollars will decrease if:
A. interest rates are lower in the U.S. relative to interest rates abroad. B. foreigners wish to buy U.S. goods. C. interest rates are higher in the U.S. relative to interest rates abroad. D. foreigners wish to buy U.S. financial assets.
In the mid-1990s, real interest rates fell in the United States. This was the result of budget deficit
A. increases and tighter monetary policy. B. increases and looser monetary policy. C. reductions and looser monetary policy. D. reductions and tighter monetary policy.
If an American construction company built a road in Kuwait, this activity would be
A) excluded from U.S. GNP. B) fully included in U.S. GDP. C) included in U.S. GNP only for that portion that was attributable to American capital and labor. D) included in U.S. GDP but not in U.S. GNP.