Currently in the European Union, resale price maintenance agreements are ________.
A) a hardcore restriction on competition and are judged by the rule of reason approach
B) a hardcore restriction on competition and are presumed to be illegal
C) illegal per se and are judged by the rule of reason approach.
D) legal
B) a hardcore restriction on competition and are presumed to be illegal
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All mutually beneficial trades have taken place. This implies that
A) the production possibilities curve is bowed out. B) society is inside the production possibilities curve. C) economic efficiency prevails in the society. D) society is on the constant cost portion of its production possibilities curve.
Bundling of products becomes _____, if the valuations of different customer groups are _____
a. more profitable; positively correlated b. less profitable; perfectly elastic c. less profitable; positively correlated d. more profitable; perfectly elastic
A farmer in Mexico purchases a tractor made in the U.S. This purchase is an example of
a. a U.S. import and a Mexican export b. a U.S. export and a Mexican import c. an export for both the U.S. and Mexico d. an import for both Mexico and the U.S.
Refer to Figures b and c. In the figures above, the probability of sunny weather, state S, is higher in:
A. Figure b.
B. Figure c.
C. bundle C versus A in both figures.
D. bundle A versus C in both figures.