The market for used cars is not considered perfectly competitive because:
A. there is complete information.
B. the good is standardized.
C. there are always very low transaction costs.
D. the buyers are not price takers.
Answer: D
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Derivatives can be used to reduce risk, but they also can be a source of risk in themselves.
Answer the following statement true (T) or false (F)
All of the following are true regarding the Sherman Act except which one?
A) It condemns the act of becoming a monopoly. B) It addresses both monopolies are cartels. C) It was the second major piece of antitrust legislation. D) It condemns the act of trying to become a monopoly.
Graphically, the area that represents the difference between the market price and the minimum price required to induce suppliers to produce a good is called
a. consumer surplus. b. producer surplus. c. marginal cost. d. triangular arbitrage.
What are the two largest categories of federal tax receipts?