Answer the following statement(s) true (T) or false (F)
1. The Robinson-Patman Act was designed to stop resale price maintenance.
2. It is possible for a firm engaging in predatory pricing to make a profit on the good even thought the price is set artificially low.
3. It is possible to avoid the prisoners' dilemma as long as the interaction is repeated and has a definite ending date.
4. Fair trade refers to the fact that retailers are free to set their price in the absence of resale price maintenance.
5. An attorney that finds a loophole in a law has formed a creative response to the law.
1. False
2. False
3. False
4. False
5. True
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The American Economic Association limiting its presidential vote to only one candidate is an example of agenda control
a. True b. False
The long run average cost curve may initially slope downward due to
A) decreasing average fixed costs. B) increasing marginal returns. C) economies of scale. D) All of the above.
As a share of GDP, U.S. spending on education is:
a. comparable to that of other wealthy nations in the OECD b. about 26% higher than the average of wealthy nations in the OECD c. about 26% lower than the average of wealthy nations in the OECD d. rising slowly, but steadily
If aggregate demand shifts rightward more than expected...
What will be an ideal response?