In the American Tobacco and Standard Oil cases, the Supreme Court
A. prohibited monopoly per se.
B. prohibited certain illegal tactics.
C. applied the rule of reason.
D. had the government take over the oil and tobacco industries.
B. prohibited certain illegal tactics.
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Why do most collusive agreements have difficulty surviving?
What will be an ideal response?
If the government increases the corporate income tax,
A) the user cost of capital declines and V* increases. B) the user cost of capital declines and V* decreases. C) the user cost of capital increases and V* decreases. D) the user cost of capital increases and V* increases.
The relationship between advertising and product differentiation is
a. positive; the more differentiated the product, the more a firm is likely to spend on advertising. b. negative; the more differentiated the product, the less a firm is likely to spend on advertising. c. zero; there is no relationship between product differentiation and advertising. d. irrelevant; firms with differentiated products do not need to advertise.
In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ________ gap.
A. recessionary B. expansionary C. potential D. no