Describe a recent violation of the Wheeler-Lea Act of 1938
What will be an ideal response?
In 2007, the FTC fined four makers of over-the-counter diet pills a collective $25 million for claiming their products produces fast and permanent weight loss.
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Make the case for and against an independent Federal Reserve
What will be an ideal response?
Which agency was created by Congress in 1914 to investigate and regulate unfair methods of competition?
a. Department of Justice. b. Federal Trade Commission. c. Interstate Commerce Commission. d. General Accounting Office.
Which of the following is a private owner prohibited from doing?
What will be an ideal response?
Suppose two Cournot duopolist firms operate at zero marginal cost. The market demand is p = a - bQ. Firm 1's best-response function is
A) q1 = (a - bq2)/2b. B) q1 = (a - 2bq2)/2b. C) q1 = a/b. D) q1 = a/2b.