In order to obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
a. only that an attempt to fix prices was made.
b. that there was a price-fixing agreement that actually lessened competition.
c. that there was a high concentration ratio for the industry.
d. all of these.
a
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Commercial airlines have two primary suppliers of large jet aircraft: Boeing and Airbus
Since millions of people fly with commercial airlines each year, should these aircraft manufacturers be required to incorporate every possible safety feature into the aircraft they manufacture? Should the manufacturers be allowed to incorporate no safety features? If some safety considerations are to be required, how would an economist decide on which features to include and which not to include?
The total producer surplus in the entire market is given by the:
A) product of the individual seller's surplus. B) sum of all the individual sellers' producer surplus. C) area between the market supply curve and the market demand curve. D) area between the market demand curve and the price line.
Explain why an employer in a perfectly competitive market will hire more workers when the marginal revenue product is greater than the wage
What will be an ideal response?
According to the liquidity preference model, if the interest rate rises above its equilibrium value, the quantity demanded of nonmonetary interest-bearing financial assets _____, and this leads to a _____ in the interest rate.
A) decreases; rise B) increases; fall C) decreases; fall D) increases; rise