The Sherman Act of 1890 and the Clayton Act of 1914 were Antitrust Acts whose purposes included all of the following except
(a) The maintenance of a competitive economy
(b) The prevention of monopolies, combinations and other conspiracies in restraint of trade
(c) The prevention of price discrimination that reduces competition
(d) The prevention of labor union activity that reduces competition in the labor market
(d)
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Refer to the payoff matrix below. Which of the following is true for Bright Lights?
A) They do not have a dominant strategy.
B) Their pure strategy is to set a Low Price.
C) Their pure strategy is to set a High Price.
D) They do not have a pure strategy.
Demand for a necessity, such as food, is
a. both income and price inelastic b. income inelastic and price elastic c. income elastic and price inelastic d. both income and price elastic e. income elastic and perfectly price inelastic
If Jenna buys a CD at a price of $10, she gets a consumer surplus of $20 . This means she
a. does not have enough money to buy the CD b. will not buy the CD since marginal utility is not high enough c. was willing to pay as much as $30 for the CD d. was willing to pay as much as $20 for the CD e. will have $30 left over after she buys the CD
In order to "defend" its overvalued currency, Argentina in 2002 had to reduce its
a. interest rates. b. tax levels. c. holdings of foreign reserves. d. balance of payments surpluses.