Which antitrust law prohibited firms from buying stock in competitors and from having directors serve on the boards of competing firms?
A) the Clayton Act
B) the Securities and Exchange Act
C) the Sherman Act
D) the Robinson-Patman Act
Answer: A
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For each of the following sets of supply and demand curves, calculate equilibrium price and quantity
a. QD = 1000 - P; QS = P b. QD = 1500 - 2P; QS = 100 + 2P c. QD = 2000 - 3P; QS = -300 + 3P
For an efficient outcome, MR must exceed MC.
Answer the following statement true (T) or false (F)
The averaging equation of elasticity solves the problem of
a. whether price or quantity is in the numerator b. which price or quantity to use as a base for calculating percentage changes c. whether to use quantity supplied or demanded d. removing the negative sign e. whether to use income or price in the denominator
Effective expansionary monetary policy, according to Keynesian theorists, will do all of the following except
A. Increase bank lending capacity. B. Lower real output. C. Reduce interest rates. D. Encourage people to borrow and spend money.