In the Utah Pie case, the economic effect of the Supreme Court decision was to:
a. prohibit the merger of two small pie companies.
b. encourage competition by ruling that the national competitors had engaged in illegal price discrimination.
c. encourage competition by ruling that the national competitors had not engaged in illegal price discrimination.
d. discourage competition by national competitors in the Salt Lake City market.
d
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The yield on a bond is the
A. annual coupon payment divided by the price paid for the bond. B. coupon rate divided by the price paid for the bond. C. annual coupon payment divided by the face value of the bond. D. same as the interest rate on the bond. E. a and d
The view that expectations change relatively slowly over time in response to new information is known in economics as
A) rational expectations. B) irrational expectations. C) slow-response expectations. D) adaptive expectations.
The CPI was 96 in 1982, and the CPI was 230 in 2012 . How much money would you have needed in 2012 in order to buy what you could have bought with $500 in 1982?
a. $208.96 b. $1,197.92 c. $697.92 d. $1,697.92
The movement of workers from lower productivity jobs to higher productivity jobs would be an example of:
A. network effects. B. technological advance. C. simultaneous consumption. D. improved resource allocation.