All of the following actions are potential rule -of-reason violations except which one?
A) a tying sale with a customer
B) an exclusive dealings contract with a customer
C) an agreement with a competitor firm not to bid on a contract
D) a firm's agreement with a customer about the resale price of its product
C) an agreement with a competitor firm not to bid on a contract
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Assume that Nation A's production possibilities are either 30 units of bricks or 50 units of wheat. Nation B's production possibilities are 20 units of bricks and 40 units of wheat. Which of the following is true?
A. The high-cost producer of bricks is Nation A. B. Nation A is the least-cost producer of wheat. C. According to the principle of comparative advantage, Nation B should specialize in the production of bricks. D. The opportunity cost of wheat production is lower in Nation B.
If a friend of yours keeps cash hidden under the mattress, he is using money as a
A. medium of exchange. B. unit of accounting. C. store of value. D. standard of deferred value.
A government wants to reduce electricity consumption by 5%. The price elasticity of demand for electricity is -0.5. The government must ________ the price of electricity by ________.
A. raise; 1.0% B. raise; 0.1% C. lower; 0.5% D. raise; 10.0%