When ruling on a price-fixing case under the per se rule, the U.S. courts need only examine
a. market structure
b. market conduct
c. market performance
d. market structure and conduct
e. market structure, conduct, and performance
B
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Of the following balance of payments measures, which one shows bestwhether there are speculative financial capital flows from the nation?
a. Current account b. Balance on goods & services c. Balance on goods, services, and net income d. Capital account e. Financial account
If the marginal product of labor is less than the average product of labor, then the average product of labor is increasing.
Answer the following statement true (T) or false (F)
Under the collusion model, the outcome in an oligopoly is the same as a monopoly.
Answer the following statement true (T) or false (F)
Figure 10-1
?
Suppose a perfectly competitive firm’s situation is shown in Figure 10-1 and the firm is currently producing at D. What can be said about this situation?
A. The firm is suffering an economic loss but is maximizing profits. B. The firm is not suffering an economic loss but is not maximizing profits. C. The firm is not suffering an economic loss and should increase output. D. The firm is suffering an economic loss and should decrease output.