The most important weakness of the Sherman Antitrust Act was that
a. the Supreme Court refused to enforce it
b. it wasn't specific about the types of acts which would violate the law
c. it didn't outlaw restraints of trade
d. it was too complicated
e. it was too specific
B
You might also like to view...
Suppose that a company produces at a point where its MR is $430 and its MC is $105, this implies that
a. the firm earns a total profit of $325 at that output level b. the firm’s total costs are rising faster than its total revenue c. the firm’s total profit is rising, suggesting that the firm should expand production d. each unit of output generates an average profit of $325
Purchases of Huggies diapers should
A) increase in recessions and decrease in expansions. B) decrease in recessions and increase in expansions. C) remain fairly constant over the business cycle. D) increase in recessions and remain constant in expansions.
From 1980 to 2012, the black-white wage ratio for males in the United States
A. increased substantially from under 0.5 in 1980 to almost 1.0 in 2012. B. increased modestly from 0.7 in 1980 to about 0.8 in 2012. C. held constant at about 0.7. D. fell steadily from about 1.0 in 1980 to 0.5 in 2012. E. increased substantially from 0.4 in 1980 to over 0.8 in 2012.
Refer to the information provided in Figure 5.3 below to answer the question(s) that follow.
Figure 5.3Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger decreases from $8 to $7, the price elasticity of demand equals ________ and demand is ________.
A. -2.29; inelastic B. -2.14; elastic C. -0.47; inelastic D. -3.5; elastic