The Sherman Antitrust Act prohibits price-fixing in the sense that
a. competing executives cannot even talk about fixing prices.
b. competing executives can talk about fixing prices, but they cannot take action to fix prices.
c. a price-fixing agreement can lead to prosecution provided the government can show that the public was not well-served by the agreement.
d. None of the above is correct. The Sherman Act did not address the matter of price-fixing.
a
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Which of the following is a public good?
a. An economics lecture. b. A television set. c. Higher education. d. Housing. e. Clean air
Suppose Mark invests a sum of $100,000 in a new venture. To fund his investment, Mark withdraws $50,000 from a savings account paying 10% per year and uses the proceeds from a bond that has just matured worth $50,000 . If he had reinvested the proceeds from the bond, he could have earned interest at the rate of 5%. Calculate the opportunity cost of capital for Mark in a particular year
a. $5,000 b. $7,500 c. $10,000 d. $12,500 e. $100,000
If the Herfindahl-Hirschman Index for an industry is 8,528, is the industry competitive or concentrated?
What will be an ideal response?
Populists proved themselves to be strong "quantity theory" activists by
(a) pushing the government to provide a general level of money demand that could be kept abreast of farm output. (b) advancing public education and woman suffrage efforts. (c) trying to prohibit corporate subsidies. (d) seeking to reserve land and other natural resources for farm and conservation use.