The rule of reason is the criterion introduced by the courts for determining whether a firm's action was illegal under the Clayton Act.
Answer the following statement true (T) or false (F)
False
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You view tea and scones as perfect complements, and the corners of the indifference curves lie on the 45-degree line. Tea is plotted along the horizontal axis of the indifference map
Also, at your current point of consumption, you have not fully exhausted the available budget, and you consume more tea than scones. Based on this information, which of the following statements is NOT true? A) The marginal utility of tea equals zero for your current consumption bundle. B) The marginal utility of scones equals zero for your current consumption bundle. C) To reach the point of optimal consumption, you must increase your scone consumption. D) The equal marginal principle does not have to be satisfied at the optimal consumption point for this problem.
Refer to the above figure. A minimum wage has been set at WM. The amount of unemployment is
A) zero. B) at Qe. C) QS minus QD. D) not computable from the information given.
Differing productivities, differences in working conditions, and localized employer market power are some of the reasons which explain differences in individual wages
Indicate whether the statement is true or false
Aluminum Aces dumps wastewater into a creek they have owned for decades. The new neighbor, Ms. Franklin, has tried to grow bamboo along the creek where it enters her property, but the wastewater kills about $1,000 worth of her bamboo each year. She offers Aluminum Aces $600 per year to add a new filter, which costs $400, to their system so wastewater will no longer kill her bamboo. What is one characteristics of this case that fits the Coase theorem?
a. Both parties are worse off than before. b. Property rights are clearly defined. c. A positive externality is internalized. d. Transaction costs are indeterminable.