Antitrust action restructures a previously monopolized industry into a competitive industry. If economies of scale are unimportant in the industry, the expected result of this movement from monopoly to competition is
a. a reduction in output and an increase in price in the industry.
b. a reduction in both price and output in the industry.
c. an increase in both price and output in the industry.
d. an increase in output and a reduction in price in the industry.
D
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Entities that buy up patents then try to extract large payments from companies that use similar technologies are known as ________
A) Solow pirates B) tertiary leeches C) Great Googly Mooglies D) patent trolls
Suppose a firm is considering producing zero units of output. We call this exiting an industry in the short run and shutting down in the long run
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
A) All of the above are true. B) The parents of successful entrepreneurs almost always have at least a college education. C) Successful entrepreneurs are good at discovering profitable opportunities that have been overlooked by others. D) Entrepreneurs are under-represented among millionaires.
What interest rate has been the focus of monetary policy?
What will be an ideal response?