What is rule of reason?
What will be an ideal response?
Rule of reason is the criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal ("unreasonable") or legal ("reasonable") under the terms of the Sherman Act.
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What does the Law of Supply state? What is the key feature of a typical supply curve?
What will be an ideal response?
You read a story in the newspaper announcing the proposed merger of Dell Computer and Gateway. The merger is expected to greatly increase Gateway's profitability. If you decide to invest in Gateway stock, you can expect to earn
A) above average returns since you will share in the higher profits. B) above average returns since your stock price will definitely appreciate as higher profits are earned. C) below average returns since computer makers have low profit rates. D) a normal return since stock prices adjust to reflect expected changes in profitability almost immediately.
In the long run when monopolistically competitive firms advertise,
a. they will still earn zero economic profit b. they can earn positive economic profit by increasing market share c. the market price must fall d. the market price must rise e. there will be fewer units sold than in the short run
Of the following, what muscle would do the most work if you ran five miles?
A. Biceps B. Pectoralis major C. Quadriceps femoris D. Sternocleidomastoid