What is the purpose of antitrust legislation?
What will be an ideal response?
Antitrust legislation makes illegal certain economic activities. These activities involve restraining trade and inhibiting free competition among rival firms in the marketplace. The aim is to reduce the economic power of monopolies.
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Suppose there are three houses in a neighborhood. The residents are considering installing street lights and are trying to determine how many lights need to be installed
Each resident's willingness to pay for street lights is given in the table below. Number of Street Lights House 1 House 2 House 3 1 $300 $400 $200 2 $280 $360 $160 3 $240 $300 $120 4 $180 $220 $100 5 $80 $100 $10 If the cost of installing one light is $500, how many lights will be installed? A) 1 B) 2 C) 4 D) 5
What are the reasons for the development and growth of the Eurodollar market?
What will be an ideal response?
How can the market demand for a product be inelastic but the demand for a particular firm is elastic?
A) There is no advertising. B) There is a sufficiently large number of sellers. C) There is only one or two sellers. D) Buyers do not have complete information.
The Social Security system was founded
A) during the Civil War, to pay pensions for veterans. B) during the last years of the nineteenth century, as people who had once depended on having a family farm found themselves without a means of support. C) as the United States began to recover from the Great Depression. D) in response to concerns that arose during the high inflation of the 1970s.