The Robinson-Patman Act limits the ability of the firms to
A. discriminate in terms of prices.
B. use capital-intensive means of production.
C. charge different prices to retailers.
D. produce certain products.
Answer: C
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Efficiency occurs if the:
A. individually rational quantity of goods and services is being produced. B. market is in equilibrium. C. government does not interfere with market prices. D. socially optimal quantity of goods and services is being produced.
At its peak labor union membership was about _____% of the labor force.
A. 15 B. 25 C. 35 D. 45
What is the amount of tariff imposed on a ton of sugar?
A. $1 B. $1,000 C. $500 D. $50
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $6, the price will
A. remain constant because the market is in equilibrium. B. decrease because there is an excess supply in the market. C. increase because there is an excess demand in the market. D. decrease because there is an excess demand in the market.