To obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
A. only that an attempt to fix prices was made.
B. that there was a price-fixing agreement that actually lessened competition.
C. that there was a high concentration ratio for the industry.
D. that consumers were charged a higher price as a result of the price fixing.
Answer: A
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Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Jane should specialize in the production of which good?
A. corn B. green beans C. both D. neither
Explain the term "free riders."
What will be an ideal response?
The assumption of transitive preferences implies that indifference curves must:
A) not cross one another. B) have a positive slope. C) be L-shaped. D) be convex to the origin. E) all of the above
The official poverty rate for the United States is currently set at ____ times the cost of providing a nutritionally adequate diet
a. two b. three c. five d. eight