Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly) produce the monopoly quantity of 25,000 units. If the competitive price for the product is $10, under the Clayton Act these three firms face treble damages of ________.
A) $3,000,000 B) $750,000 C) $2,250,000 D) $1,000,00
C) $2,250,000
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Mary is willing to pay $50 for a Christmas tree, John is willing to pay $45 and Jeff is willing to pay $40. The price of a tree is $40. The total consumer surplus for Mary, John and Jeff taken together is
A) $15. B) $135. C) $40. D) $95. E) $120.
The table above gives the quantity of money and money demand schedules. Suppose that the interest rate is equal to 3 percent. The effect of this interest rate in the money market is that
A) the money market is in equilibrium. B) people buy bonds and the interest rate falls. C) people sell bonds and the interest rate rises. D) bond prices rise so that the interest rate rises.
According to the MABP, BOP disequilibria
A) must be transitory. B) are essentially real phenomena. C) must be permanent. D) are not important.
With a contractionary monetary policy, as the output gap increases, the response of the central bank will tend to cause net capital outflows to ________ and cause the nominal exchange rate to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease