The Sherman Anti-Trust Act gave the U.S. government the power to control
a. monopolies
b. public utilities
c. the postal service
d. the stock market
Answer: a. monopolies
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Within a monopolistically competitive industry
A) firms can freely enter and exit and economic profits are zero in the long run. B) firms can freely enter and exit and economic profits are greater than zero in the long run. C) there are some barriers to entry and exit and economic profits are zero in the long run. D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.
The portfolios that mutual funds offer to savers are
A) usually made up of bonds. B) usually made up of common stocks. C) tax free in most states. D) usually more liquid than the underlying assets.
With ______ returns to scale, production is most efficient if there is ______.
A. decreasing; a single producer B. increasing; a large number of producers C. constant; a single producer D. increasing; a single producer
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $9, the price will
A. remain constant because the market is in equilibrium. B. decrease because there is an excess supply in the market. C. increase because there is an excess supply in the market. D. increase because there is an excess demand in the market.