An increase in the price of cameras results in a decrease in the demand for film. The two products are
a. complements.
b. unrelated.
c. demand elastic
d. substitutes
Ans: a. complements.
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Which of the following is illegal under the Sherman Antitrust Act?
a. Attempts to monopolize. b. Price fixing. c. Formation of cartels. d. All of these are illegal under the Sherman Antitrust Act.
The joining of firms that are producing or selling a similar product is
A. a horizontal merger. B. a vertical merger. C. a cross or diagonal merger. D. a conglomerate merger.
The purpose of antitrust legislation is
A) to reduce unemployment. B) to reduce the power of monopoly. C) to increase the power of monopoly. D) to maximize employment for a given price level.
A certificate of indebtedness that specifies the obligations of the borrower to the holder is called a
a. bond. b. stock. c. mutual fund. d. All of the above are correct.