In the United States, antitrust enforcement focuses on
A. the average level of prices charged by firms.
B. the price-cost margin of an industry.
C. the degree of market concentration within a market.
D. the profitability of the leading firms in an industry.
Answer: C
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There has been much discussion of deregulating electricity and natural gas delivery companies in the United States. Discuss the likely effect of deregulation on prices in these two industries
Two products are substitutes if:
A. an increase in the price of one causes buyers to demand less of the other. B. an increase in the price of one causes buyers to demand more of the other. C. a decrease in the price of one causes buyers to demand more of the other. D. individuals consume the goods together.
Table 28.1Reduction in Emissions (in tons)MC to Reduce Emissions by Steel PlantMC to Reduce Emissions by Paper Plant1$400$20025002803600320Refer to Table 28.1. Suppose the government allows these two firms to trade pollution permits. The total cost to reduce emissions by a total of two tons could be as low as
A. $600. B. $900. C. $0. D. $480.
Individuals with taxable incomes of between $0 and $8,350 are in the _____ percent tax bracket.
Fill in the blank(s) with the appropriate word(s).