In July 2008, the Federal Communications Commission approved the merger of satellite radio providers XM Satellite and Sirius Satellite Radio, establishing a single satellite radio company in America. The deal is tough for many to swallow
"We continue to believe that consumers are best served by competition rather than monopolies," said National Association of Broadcasters Vice President Dennis Wharton. What does Wharton argue? A) Producer surplus is greater with competition.
B) Total surplus is greater with a monopoly.
C) Consumer surplus is greater with competition.
D) Prices are lower with a monopoly.
C
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The tertiary sector of the economy employs housecleaners, restaurant help and hotel employees; it does not employ private consultants, accountants, nanotechnologists, managers and other professionals
Indicate whether the statement is true or false
Generally speaking, firms _____ of their capital assets
a. prefer straight-line depreciation b. prefer accelerated depreciation c. are indifferent between straight-line and accelerated depreciation d. prefer not to depreciate
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
The NAIRU is short for the nonaccelerating inflation rate of unemployment.
Answer the following statement true (T) or false (F)