The Standard Oil trust
A. forced the railroads to grant it discounts but not to its competitors.
B. forced the railroads to give it payments on every shipment of oil refined by rival firms.
C. violated the Sherman Antitrust Act.
D. All of the choices.
D. All of the choices.
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Externalities get their name from the fact that they are:
a. b and d. b. unintended. c. short lived. d. outside of decisions. e. outside of marketplace.
Many public choice economists believe that elected political officials would make better choices if they had to vote for higher taxes in order to adopt new spending programs
a. True b. False Indicate whether the statement is true or false
Other things the same, people in the U.S. would want to save more if the real interest rate in the U.S
a. fell. The increased saving would increase the quantity of loanable funds demanded. b. fell. The increased saving would increase the quantity of loanable funds supplied. c. rose. The increased saving would increase the quantity of loanable funds demanded. d. rose. The increased saving would increase the quantity of loanable funds supplied.
Stackelberg Leader-Follower duopolists face a market demand curve given by P = 90 - Q where Q is total market demand. Each firm can produce output at a constant marginal cost of 30 per unit. The equilibrium price and quantity for the total market will be
A. Q = 40, P = 50. B. Q = 45, P = 45. C. Q = 30, P = 60. D. Q = 60, P = 30.