If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will
A) set a higher price in the market that is more price elastic.
B) set a lower price in the market that is more price elastic.
C) set price so as to equate the elasticity of demand across markets.
D) set price equal to marginal cost in both markets.
B
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The landmark antitrust case which established that size alone can be an antitrust violation is the:
a. U.S. Steel case. b. Brown Shoe case. c. Von's Grocery case. d. ALCOA case. e. Pabst Brewing case.
Sticky wages cause the:
A. short-run aggregate supply curve to slope upward. B. long-run aggregate supply curve to slope upward. C. short-run aggregate supply curve to slope downward. D. long-run aggregate supply curve to slope downward.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Refer to the information provided in Figure 13.5 below to answer the question that follows. 
Figure 13.5 Refer to Figure 13.5. The Silver Exchange has a monopoly over the sale of solid silver walking sticks. This company is
A. earning an economic profit. B. breaking even. C. suffering an economic loss and not covering its variable costs. D. suffering an economic loss but covering its variable costs.