Which of the following is considered per se illegal under the U.S. antitrust law?
a. An agreement to fix prices of commodities.
b. An agreement to maintain certain technical standards.
c. An agreement to operate only in specific regions.
d. An agreement to follow identical production technique.
A
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In the figure above, a perfectly price-discriminating monopoly will maximize profit by producing at amount of output equal to
A) h. B) j. C) k. D) none of the above.
Suppose the federal government doubles the gasoline tax. The deadweight loss associated with the tax
a. also doubles. b. triples. c. quadruples. d. rises by a factor of 8.
It is difficult to privately produce a public good because such goods are ______.
a. nonrival and excludable b. rival and nonexcludable c. nonrival and nonexcludable d. rival and excludable
Empirically, women who are married to a spouse who has access to health insurance earn higher wages and are less likely to be offered employer-sponsored health insurance than are married women whose spouse does not have access to health insurance. This pattern
A. supports the theory of compensating differentials as it indicates there is a trade-off between wages and benefits. B. supports the theory of compensating differentials as it indicates there is no trade-off between wages and benefits. C. fails to provide support for the theory of compensating differentials. D. contradicts the result that the hedonic wage function is upward sloping. E. is unexpected as wages should be unrelated to fringe benefits.