Wal-mart
(a) is the railroad of the late nineteenth century.
(b) provides an example of how one large business enterprise still can
seize market power to restrict entry and exit.
(c) holds monopoly power in retail.
(d) exists at the expense of consumers.
(a)
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Which of the following is an example of how incentive structures contributed to the collapse of investment banks?
a. The bonus structures of most executives were tied to short-term profitability. b. The rating agencies acted independently in assigning ratings to mortgage-backed securities and had no incentive to understate the risks. c. Mortgage-backed securities were closely scrutinized in order to minimize risk and obtain higher ratings. d. Despite SEC regulations, investment banks kept leverage ratios low in order to increase profits.
Explain the practice of tying and discuss why it is controversial
If the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for orange juice is
A) -1.25. B) elastic. C) Both A and B above. D) Neither A nor B above.
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the firm's level of total cost is represented by the given isocost line, the firm's optimal combination of capital and labor is given by
A. point A. B. point B. C. point C. D. 50 units of capital and 50 of labor.