Which of the following is illegal under the Clayton Act of 1914?
a. Price discrimination as a tool for exploiting market power.
b. A person serving on the board of directors of only one company.
c. Automobile dealers selling cars from different manufacturers.
d. Companies such as fast-food franchisers that allow franchisees to buy inputs, uniforms, and training from a source other than the franchiser.
a
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The debit side of the current account includes the imports of
a. goods only b. goods and services c. services only d. services and resources only e. financial assets
A tax is imposed on orange juice. Consumers will bear more of the burden of the tax: a. If the demand for orange juice is relatively inelastic and the supply is relatively elastic. b. If the demand for orange juice is relatively elastic and the supply is relatively inelastic. c. If the supply for orange juice is perfectly inelastic
d. none of the above
As one moves down a straight-line, down-sloping demand curve, price elasticity will:
A. change from elastic, to unit elastic, then to inelastic. B. remain the same between any two points. C. change from inelastic, to elastic, then to unit elastic. D. change from unit elastic, to elastic, then to inelastic.
A professor's students are not getting good grades because of lack of studying. A behavioral economist would say that one reason the students are not studying is that:
A. the professor is not forcing the students to study for the tests. B. they prefer to hang out with friends and watch television and therefore are making an optimal choice. C. we live in a society in which grades in college are not important. D. the cost of studying (not being with friends) would have to be paid now, whereas the benefit (better grades) comes later.