For decades, the NCAA restricted the number of college football and basketball games that could be televised, and in 1982 the University of Georgia and the University of Oklahoma sued the NCAA under the federal antitrust laws. In 1984, the Supreme Court
decided the case
A) for the NCAA, citing the fact that belonging to the NCAA was voluntary.
B) against the NCAA, citing that the NCAA did not control what television networks put on the air.
C) against the NCAA, citing anticompetitive practice.
D) against the NCAA, citing explicit collusion among the larger colleges.
Answer: C
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Countries with higher income per capita are likely to have ________
A) a lower Human Development Index B) a higher Human Development Index C) a higher rate of unemployment D) a lower life expectancy at birth
The United States and Mexico recently negotiated a trade agreement that eliminated many of the restrictions on trade between the two countries
a. Using the tools of microeconomics, describe how such an agreement will benefit both the USA and Mexico. b. Will everyone benefit from such an agreement? who stands to lose from such an agreement. Why?
A manager maximizes profit when they find a level of output where marginal revenue and marginal cost are equal
Indicate whether the statement is true or false
Assume that health insurance pays three-fourths of the cost of health care. Under this type of system, there will be allocative:
A. Efficiency because consumers pay a price below market equilibrium and receive a quantity at which the marginal cost to society equals the marginal benefit B. Efficiency because consumers pay a price below market equilibrium and receive a quantity at which the marginal benefit to society exceeds the marginal cost C. Inefficiency because consumers pay a price below market equilibrium and receive a quantity at which the marginal cost to society exceeds the marginal benefit D. Inefficiency because consumers pay a price above market equilibrium and receive a quantity at which the marginal benefit to society exceeds the marginal cost