Three firms agree to operate as a monopoly and charge the monopoly price of $100 for their product and (jointly) produce the monopoly quantity of 20,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ______
A) $1,300,000 B) $3,900,000 C) $3,000,000 D) $1,000,
B) $3,900,000
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Six Flags Entertainment Cor
A) Some of the property owners might ask for more money than their property is worth and prevent the project from moving forward. B) The transactions costs of bargaining with the current landowners is likely to be quite low. C) The government would likely not use eminent domain in this situation since it involves a private corporation trying to acquire land from private landowners. D) The land must be undervalued for a large corporation like Six Flags to want to acquire it.
Refer to Figure 17-1. Suppose the market price of doilies rises to $3. What happens to the curve given in the diagram?
A) There will be a movement along the curve. B) Nothing, because labor's productivity has not changed. C) The curve shifts to the right. D) We cannot answer the question without knowing if Dale would want to hire more workers.
Over time, the hierarchy of firms has tended to move from
A) upstream to downstream. B) hierarchical to non-hierarchical. C) lateral to parallel. D) big to small to big again.
An effective way for a country to keep its currency fixed at a desirable level is to:
A. use internationalization of the debt. B. demand changes in trade policy to its trade partners. C. demand changes in monetary and fiscal policies of its trade partners. D. use traditional monetary, fiscal, and trade policies.