Prior to 1914, did antitrust legislation have much effect on monopoly power in the United States? Why or why not?
What will be an ideal response?
The Sherman Antitrust Act passed in 1890 was extremely vague and difficult to enforce. As a result, the act was ineffective for years and the federal government did not win its first notable cases against Standard Oil and American Tobacco until 1911.
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In the 1990 Clean Air Act Amendments,
a. Title IV uses a strict command-and-control approach to regulate sulfur dioxide b. market-based approaches are integrated in certain of the titled sections c. market-based policies predominate over command-and-control initiatives d. there were no provisions to control ozone depletion
Prediction of stock share prices is relatively straightforward, given information about corporate earnings and number of shareholders
Indicate whether the statement is true or false
Which of the following industries is most likely to exhibit the characteristic of free entry?
a. nuclear power b. municipal water and sewer c. dairy farming d. airport security
Briefly describe the two arguments that economists make to defend the practice of resale price maintenance