The Robinson-Patman act
a. Is a part of the antitrust laws
b. Makes it illegal to give a price discount on a good sold to another business
c. Makes it illegal to give a price discount on a good sold to final customers
d. Both A&B
d
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Antitrust laws are an example of:
A. political forces. B. social forces. C. economic forces. D. the invisible hand.
Explain why a monopoly or a perfectly competitive firm does not consider a rival firm's behavior, but an oligopoly and a monopolistically competitive firm do
What will be an ideal response?
Firms have inventories that they can draw down to meet an increase in demand. This will
A. increase the size of the multiplier, because firms will be able to respond more quickly to a change in demand. B. decrease the size of the multiplier, because output will not immediately respond to changes in demand. C. have no effect on the multiplier, because the MPC remains unchanged. D. either increase or decrease the multiplier, depending on the size of the MPC.
The above figure shows the Lorenz curves for four different countries. In which country is income most equally distributed?
A) country A B) country B C) country C D) country D