In the case of Intimate Bookshop v. Barnes & Noble, Intimate alleged that Barnes & Noble
a. was bundling products in order to reduce competition.
b. used technological advances to sell at lower prices.
c. was buying books at discriminatory prices.
d. had merged with other competitors in an effort to gain monopoly power.
b
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Congress imposes a price ceiling in the market for gasoline. It is below the equilibrium price. This will:
a. Lead to a surplus of gasoline b. Lead to a shortage of gasoline c. Decrease the demand for gasoline d. Increase the demand for large cars
If the interest rate rises from 1 percent to 3 percent, the ________ decreases and the opportunity cost of holding money ________
A) demand for money; rises B) quantity of money demanded; rises C) quantity of money supplied; rises D) quantity of money demanded; falls E) quantity of money supplied; falls
The lowest wage for which a person is willing to supply labor is known as the
A) substitution wage. B) income effect. C) derived wage. D) reservation wage.
The output per acre on U.S. farms has
a. remained fairly stagnant since 1968 b. increased only slightly since 1968 c. declined dramatically since the late 1970s d. more than doubled since World War II e. shown a marked decline in recent years