Antitrust enforcement of vertical relationships is generally focused on
a. The dominant firm using horizontal contracts to extend market power to other levels of the supply chain
b. Vertical contracts reducing the intensity of competition
c. Vertical contracts that help consumers
d. All of the above
b
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In the figure above, firms
A) pay taxes directly to governments. B) sell goods and services to governments in goods markets. C) receive transfers from governments through factor markets. D) own factors of production. E) do all of the above.
The above figure shows the short-run production function for Albert's Pretzels. The marginal productivity of labor equals the average productivity of labor
A) for all levels of labor. B) at none of the levels of labor. C) only for the first worker. D) only for the fifth worker.
If the interest rate is 10%, then $1 today is worth how much one year from now?
A) $1.10 B) $1.00 C) $0.91 D) $0.90
When the demand and supply of a good both shift in the same direction and amount: a. Price will change in the same direction as the shifts in supply and demand
b. Price will change in the opposite same direction as the shifts in supply and demand. change in price and an increase in quantity exchanged. c. Quantity exchanged will change in the same direction as that of the shifts in supply and demand. d. Quantity exchanged will change in the opposite direction from that of the shifts in supply and demand