The Harvard School proponents of preserving small businesses are criticized by adherents of the Chicago School, who favor only consumer welfare maximization. Discuss with examples
What will be an ideal response?
The Chicago School believed that large firms are needed to manufacture goods at the lowest cost per unit. They point out that until Henry Ford introduced the assembly-line production of automobiles, few people could afford cars. Many small businesses are economically inefficient, they say, and attempts to preserve them through antitrust policy will be underwritten by consumers in the form of higher prices. The Chicago School also insists that if U.S. manufacturers are not allowed to merge and participate in joint ventures, they will be unable to compete with large foreign multinationals and foreign companies owned or subsidized by their governments. One of the reasons the Justice Department moved to dismiss an antitrust suit against the International Business Machines Corporation in 1982 was that the computer market had become international in character since the original government complaint against IBM in 1972. If IBM had been broken up, it would not have been able to compete with large foreign multinationals either in the United States or in other countries.
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Writers writing in English typically omit _________________
a. explanations of clichés b. the accent mark in clichés c. part of the cliché's meaning d. sentences without clichés
Which form of transportation is the best in terms of dependability, fuel efficiency, and losses and damages?
a. air b. water c. truck d. taxi e. pipeline
In a merger, the shareholders of the merged corporation always receive stock of the surviving
corporation. Indicate whether the statement is true or false
Describe the roles at which superior team leaders are effective.
What will be an ideal response?