Which of the following legal subjects is most concerned with the economic function of the legal system?
A) criminal law
B) public goods
C) antitrust legislation
D) civil rights
Answer: C
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To move up the income ladder and achieve high-income status, countries must
a. have sustained economic growth. b. restrict international trade. c. encourage the production of consumption goods rather than investment goods. d. maintain high inflation.
The demand curve faced by the monopolist
a. has a constant price elasticity. b. is the industry demand curve. c. is identical to the firm's MR curve. d. is identical to the firm's TR curve.
All of following are examples of infant industry protection cited in the text EXCEPT:
a. the Chinese auto industry. b. the Brazilian computer industry. c. Harley-Davidson. d. Daimler-Chrysler Corporation.
(Figure: Good X) From the figure, the maximum price that consumers are willing to pay for _____ units of Good X is _____ per unit.
Fill in the blank(s) with the appropriate word(s).