Which antitrust act was passed to protect independent retailers from "unfair discrimination" by chain stores?
A) Federal Trade Commission Act
B) Robinson-Patman Act
C) Sherman Act
D) Wheeler-Lea Act
Answer: B
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The law of demand implies, holding everything else constant, that as the price of bagels increases
A) the demand for bagels will decrease. B) the demand for bagels will increase. C) the quantity of bagels demanded will increase. D) the quantity of bagels demanded will decrease.
If the demand for tacos increases,
a. the supply of corn increases b. the supply of corn decreases c. the demand for corn increases d. the demand for corn decreases e. the price of corn falls
What are some of the important questions regarding the assignment of decision rights in an organizational hierarchy?
What will be an ideal response?
The accompanying figure shows the annual production possibilities curve for a small country that is open to trade with the rest of the world. Suppose the world price of cashews is $12 per pound, and the world price of mangos is $4 per pound. As indicated in the figure, at these prices, this country will produce 21,000 pounds of mangos and 5,000 pounds of cashews each year.
Suppose that the residents of this country are allergic to cashews and only want to consume mangos. Given that this country is open to trade with the rest of the world, how many mangos in total can its residents consume each year?
A. 30,000 pounds B. 36,000 pounds C. 44,000 pounds D. 39,000 pounds