In the United States, ________ represents an attempt to curb anti-competitive practices,?such as the creation of a monopoly, concentration of market power through mergers with competitors, or collusion with competitors to fix prices or limit entry
a. price leadership
b. price discrimination
c. deregulation
d. antitrust policy
d
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If gains from trade are based solely on comparative advantage, and if all countries have the same opportunity costs of production, then there are no gains from trade.
Answer the following statement true (T) or false (F)
If an 8 percent decrease in the price of lobster leads to a 15 percent decrease in the quantity of lobster supplied, then the supply of lobster is
A) unitarily elastic. B) elastic. C) unit elastic. D) perfectly inelastic.
Slick Shades has a constant marginal cost of production equal to $40 and the distributors have a constant marginal cost of distribution equal to $20. If Slick Shades vertically integrates with the perfectly competitive distributors, the profit-maximizing quantity will be ________ the profit-maximizing quantity if they did not vertically integrate and the combined firm will earn ________ profit if
they did not vertically integrate.
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) the same as; greater
B) greater than; the same
C) greater than; greater
D) the same as; the same
How many cars will this country import in an open economy situation?
A. 60,000 B. 20,000 C. 80,000 D. 40,000