Each of the following companies was split up as a result of antitrust prosecution EXCEPT
A. AT&T.
B. the Standard Oil Trust.
C. the American Tobacco Trust.
D. U.S. Steel.
D. U.S. Steel.
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As a monopolist expands its output:
A) the difference between the demand curve and the marginal revenue curve decreases. B) the difference between the demand curve and the marginal revenue curve increases. C) the slope of the demand curve decreases, while the slope of the marginal revenue curve increases. D) the slope of the demand curve increases, while the slope of the marginal revenue curve decreases.
Refer to Scenario 10.3. Suppose that a tax of $5 per unit of output is imposed on red herring producers. The price of red herring will
A) not change. B) increase by less than $5. C) increase by $5. D) increase by more than $5. E) decrease.
One way to solve the problems caused by information asymmetry is:
A. surfing. B. signaling. C. proofing. D. All of these are solutions to information asymmetry.
Which of the following statements explains the situation when the United States consistently has a large current account deficit over time?
a. The United States exports a larger amount of goods and services than it imports. b. The United States sends more capital abroad than it receives from abroad. c. The United States receives more transfers from abroad than it sends abroad. d. The United States sells more assets to foreigners than it purchases from foreigners.