A caption that can serve as a retort to opponents of social regulation would be:
A. "There is no free lunch"
B. "You can't push on a string"
C. "Less government is not always better"
D. "Restraints of trade must be outlawed"
C. "Less government is not always better"
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With perfect price discrimination, a monopoly can extract the ________ price each customer is willing to pay and thereby obtain the entire ________ surplus
A) maximum; consumer B) minimum; producer C) maximum; producer D) minimum; consumer E) None of the above answers is correct.
Which of the following countries received the largest amount of emigrant remittances in 2011?
A. India B. Mexico C. Philippines D. China
In the short run, the point at which diminishing marginal returns to labor begin is the point at which the marginal cost curve
A) peaks. B) bottoms out. C) is upward sloping. D) is downward sloping.
Answer the following statements true (T) or false (F)
1) Foreign firms and foreign citizens are exempt from U.S. antitrust laws. 2) If an illegal per se act has been proven to have occurred, there is no defense possible. 3) If a firm engaged in a price-fixing agreement first reports the activity to the Department of Justice, the company still faces substantial fees because price-fixing is illegal per se. 4) Bid rigging is analogous to price fixing. 5) Resale price maintenance can prevent showrooming.