The uncertainty and ambivalence surrounding government policies toward competition stems from
A) conflict between the goals of preserving competition and protecting competitors.
B) the influence producers are able to exert on agencies charged with enforcing laws governing business practices.
C) uncertainty about the actual effects of various measures intended to promote competition.
D) all of the above.
E) none of the above but from uncertainty about federal, state, or local jurisdiction.
D
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The official settlements account contains data on
A) trade complaints that are officially settled. B) capital imports and exports. C) official reserves. D) officials' expenses. E) official governmental complaints between countries.
Which of the following statements about the nominal and the real wage rates is correct?
A) The nominal wage rate equals the real wage rate divided by the CPI and then multiplied by 100. B) The nominal wage rate is measured in the dollars of a base year. C) The real wage rate is measured in current year dollars. D) The real wage rate indicates how many goods and services can be purchased with an hour's labor. E) The real wage rate equals the nominal wage rate multiplied by the CPI then divided by 100.
The oligopoly model that predicts that oligopoly prices will tend to be very rigid is the ________ model
A) Cournot B) Stackelberg C) dominant firm D) kinked demand
The total revenue curve for a perfectly competitive firm
a. is a vertical line intersecting the horizontal axis b. is a horizontal line intersecting the vertical axis c. starts part way up the vertical axis, then slopes upward in a backwards-S curve d. is a straight line starting from the origin and sloping upward e. starts at the origin, sloping upward at first and then sloping downward