Which of the following statements is true?
a. The proper scope of antitrust laws is well defined and definite.
b. Antitrust laws focus on granting certain firms the option to form a cartel.
c. Policymakers have the difficult task of determining whether some firms' decisions have legitimate purposes even though they appear anti-competitive.
d. There is always a need for policymakers to try to limit a firm's pricing power, regardless of whether the firm's market is competitive, a monopoly, or an oligopoly.
c
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Changes in autonomous consumption could be the result of:
A. changes in inflation. B. changes in disposable income. C. changes in housing prices. D. changes in the mpc.
The total variable cost curve
A) increases as output increases. B) shows the variable cost of production given current factor prices. C) starts at the origin. D) All of the above
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
If good A and good B are substitutes and the price of good A decreases, the demand for good B will
A. not change. B. decrease. C. increase. D. become nonexistent.