The basis of judgment for the Standard Oil case was ________, whereas the basis of judgment for the ALCOA case was ________:
A. market concentration; interlocking directorships.
B. monopolistic abuses; market structure.
C. market structure; market performance.
D. unfair business practices; price discrimination.
Answer: B
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Keynes called money people hold to make routine day-to-day purchases the:
A. transactions demand for holding money. B. precautionary demand for holding money. C. speculative demand for holding money. D. store of value demand for holding money.
What is the largest possible loss that is consistent with a firm producing in a perfectly competitive market in long-run competitive equilibrium?
A. an amount equal to price minus average variable cost B. an amount equal to total variable C. zero D. an amount equal to total fixed cost
If cash is deposited into a checking account, the supply of money increases.
Answer the following statement true (T) or false (F)
Suppose that the profit maximizing level of output for the monopolist is 100 units, and ATC = $45.00; MC = $35.00; MR = $35.00; P = $60.00. What is the monopoly's profit?
A) -$1000 B) $4500 C) $5000 D) $1500