The Celler-Kefauver Act is primarily concerned with prohibiting:
a. monopolization.
b. unfair business practices.
c. predatory pricing.
d. anticompetitive mergers.
d
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Because some monopolies could still earn an economic profit even if the firm is inefficient, corporate executives might waste resources by indulging in
a. long lunches b. corporate jets c. plush offices d. None of the answers is correct. e. All of the answers are correct.
Government purchases, under the expenditure approach to GDP accounting, includes all of the following except: a. welfare payments
b. salaries of senators. c. fighter jets purchased by the government. d. the military payroll.
Cartel members may agree to jointly limit their output in order to ______.
a. lower prices for consumers b. increase their tie-in sales c. support the profit-maximizing price d. comply with strong antitrust laws
If the market price falls below a firm's minimum average total cost, the firm should:
A. definitely stop production. B. definitely continue to operate at a loss. C. consider how to minimize its losses. D. pay only fixed costs.