The Supreme Court has defined the offense of monopolization to
A) be when only one firm exists in an industry.
B) occur when asymmetric information exists.
C) include the possession of monopoly power and the willful maintenance of that power.
D) be unfair acts in the practice of commerce.
Answer: C
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Lenders generally want borrowers to agree to invest prudently, yet once a loan is made borrowers may use the funds in a highly risky fashion. This leads to the problem of
A) deposit insurance. B) investor selection. C) critical mass. D) moral hazard.
Which of the following is not "crowded out" by higher interest rates as a result of expansionary fiscal policy?
A) net exports B) private investment C) consumption D) government spending
A business produces 4,000 units per month which it sells at $20/unit. Costs include: $10,000 on raw materials, $15,000 in wages for operators and $10,000 in wages to sales people. If the business is just breaking even, what are its fixed costs:
a. $35,000 b. $40,000 c. $45,000 d. $50,000
Human capital refers to the:
A. skills, experience, and natural talent that determine the productivity of workers. B. amount of people a firm has access to for production. C. production per capita. D. the machinery and tools that labor can use for production.