Which of the following involved deregulation?
a. Airline Deregulation Act of 1978.
b. Staggers Rail Act of 1980.
c. Motor Carrier Act of 1982.
d. All of these.
d
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In and Edgeworth Box economy, no one strictly prefers the endowment allocation to the competitive equilibrium allocation.
Answer the following statement true (T) or false (F)
The 10-year protection period from generic competition for drug manufacturers is a form of
A) trademark. B) hallmark. C) patent. D) copyright.
The market structure of oligopoly is when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of a differentiated product. D) there are many producers of a homogeneous product.
Which of the following is true in a perfectly competitive market?
a. The sellers can partially influence the price level in the market. b. All firms have identical costs. c. Entry or exit of new sellers into the market is restricted. d. Buyers and sellers have incomplete information about the product and the market.