Antitrust laws are laws that ________.
A) support monopolies
B) promote competition
C) assist firms in earning greater profit
D) create barriers to entry
B) promote competition
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Answer the next question on the basis of the following cost data for a perfectly competitive firm.Total ProductAverage Fixed CostAverage Variable CostAverage Total CostMarginal Cost1$100.00$17.00$117.00$17250.0016.0066.0015333.3315.0048.3313425.0014.2539.2512520.0014.0034.0013616.6714.0030.6714714.2915.7130.0026812.5017.5030.0030911.1119.4430.55351010.0021.6031.6041119.0924.0033.0948128.3326.6735.0056Which of the following represents the firm's short-run supply schedule?(1)(2)(3)(4)PQsPQsPQsPQs$5012$5012$5011$50114220421142104210368369369369328328328328206206206206130135130135
A. Table (1) B. Table (2) C. Table (3) D. Table (4)
Which of the following statements is CORRECT?
A) Since the mid-1940s, expenditures on national defense have increased considerably as a percentage of total federal government spending. B) Since the mid-1940s, expenditures on income security and health programs have increased considerably as a percentage of total federal government spending. C) Taken together, expenditures on national defense and on income security and health programs now account for less than half of all federal government spending. D) Expenditures on national defense now account for more than twice as much federal government spending as expenditures on income security and health programs.
Price indexes:
A. allow us to convert nominal measures of output into real measures of output. B. let us measure how much real stuff we get for our money. C. like the CPI or GDP price deflator are used to measure the aggregate price level. D. All of these statements are true.
Two farmers, A and B, each apply 100 tons of manure on their fields. To reduce manure runoff, the government has decided to require a permit for each ton of manure applied. The government gives each farmer 50 permits. Farmer A incurs losses of $25 for each ton of manure he does not apply, and Farmer B incurs losses of $50 for each ton of manure he does not apply. What is the total cost of
reducing runoff if firms are not allowed to buy and sell permits from each other? What is the total cost of reducing runoff if the firms are allowed to buy and sell permits from each other? a. $3,750; $2,500 b. $2,500; $3,750 c. $5,000 . $2,500 d. $3,750; $3,750