All of the following actions are potential rule -of-reason violations except which one?
A) an agreement with a competitor firm to adjust output levels
B) an exclusive dealings contract with a customer
C) an agreement with a customer about the resale price the customer will charge for the product
D) a tying sale with a customer
A) an agreement with a competitor firm to adjust output levels
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The indifference curves in the figure above (I1, I2, and I3 ) reflect Peter's consumption preferences. Which of the following combinations of goods does Peter prefer the most?
A) 48 slices of pizza and 12 chocolate bars B) 24 slices of pizza and 24 chocolate bars C) 40 slices of pizza and 20 chocolate bars D) 32 slices of pizza and 8 chocolate bars
Comment on the following statement: "When a negative externality is present, and a firm does not factor the additional social cost into its decisions, the firm is likely to produce a level of output that is lower than the efficient level."
What will be an ideal response?
Under a fixed exchange rate system, if an appreciation in the value of a country's currency develops, the monetary authorities ________
A) will gain international reserves B) buy the domestic currency in foreign exchange markets C) sell foreign exchange in foreign exchange markets D) will lose international reserves
One reason why the spending side of the budget is more susceptible to special interests than the tax side is because _____
a. spending can be allocated geographically, but taxation cannot b. tax programs are largely determined by the Internal Revenue Service, not Congress c. people do not care about taxation d. the administrative costs of spending programs are lower, making change cheaper