The Celler-Kefauver Act strengthened the nation's antitrust approach to merger enforcement by:
a. making all mergers illegal.
b. making all conglomerate mergers illegal.
c. creating the Federal Trade Commission.
d. providing HHI guidelines the government could use to clarify antitrust enforcement.
e. amending the Clayton Act to include the purchase of assets with cash of another company as a potential antitrust violation.
e
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Consider a firm with the following cost and revenue information: ATC = $20, AVC = $10, and P = MR = $30 . If the firm follows the rule to maximize profits, its output level is 3 . Therefore MC equals
a. $20 b. $10 c. $30 d. $90 e. $3
When U.S. government regulations that prevent goods from being imported are relaxed, this
A. Causes U.S. cartels to become even stronger. B. Reduces the barriers to entry into U.S. markets. C. Creates an environment conducive to predatory pricing. D. Causes oligopoly profits to increase.
"The U.S. government should not use my tax dollars to subsidize people on welfare"
A. is a normative economic statement because it is a scientific fact. B. is a normative economic statement because it involves a value judgment about an economic policy. C. is a positive economic statement because it predicts that my tax dollars will go to welfare. D. is a positive economic statement because it simply describes one person's opinion.
Capital goods yield benefits
A. over their life span. B. before they are put to use. C. in the present only. D. as soon as the investment decision is made.