Which of the following U.S. antitrust laws prohibits mergers through the acquisition of a firm's assets if the merger would lessen competition?
a. Clayton Act.
b. Robinson-Patman Act.
c. Celler-Kefauver Act.
d. Sherman Antitrust Act.
c
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"The Florida freeze has destroyed 40% of the orange cro
A) Yes. The freeze would not reduce the supply. B) Yes. The higher price would not reduce the demand. C) Yes. It assumes the demand curve for oranges is vertical. D) Yes. It assumes the demand curve for oranges is upward-sloping.
In the classical model, fiscal policy has no demand-side effects on output or employment
a. True b. False
Buddy bought a bond last year for $10,000. His bond pays $1,000 a year. This year a bond that sells for $10,000 pays $900 a year. If Buddy were to sell his (old) bond, its price would be approximately
A) $11,111. B) $10,120. C) $9,000. D) $12,000. E) $9,500.
If a firm in monopolistic competition is earning an economic profit,
A) it is in the long run. B) other firms can enter the market. C) it can do so because it is "monopolistic" and other firms will have a hard time competing with it. D) its average cost must exceed its marginal cost. E) The question errs because firms in monopolistic competition cannot earn an economic profit.