One method used to control the ability of firms to capture monopoly profit in the United States is through
a. government purchase of products produced by monopolists.
b. government distribution of a monopolist's excess production.
c. enforcement of antitrust laws.
d. regulation of firms in highly competitive markets.
c
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Government outlays include all of the following EXCEPT
A) dividend payments. B) spending on the military. C) electricity for the Capital Building. D) letterhead stationery.
Is monopolistic competition efficient? Explain. What is Edward Chamberlin's view about the efficiency of monopolistic competition?
What will be an ideal response?
The amount of income tax owed by a family is
a. not simply proportional to its total income. b. unaffected by deductions. c. total income minus tax credits. d. a constant fraction of income.
What would an increase in U.S. trade barriers result in?
(A) Lower prices for consumers. (B) An increase in trade for the United States. (C) A decrease in trade for the United State. (D) Increased efficiency in U.S. production.