How have antitrust laws been applied to monopoly since the 1980?
What will be an ideal response?
Two cases are significant and have been handled in different ways. In 1982, the government used the Sherman Act to bring charges against AT&T. As part of the settlement the government used a structural remedy that forced AT&T to divest itself of the 22 regional telephone-operating companies. In 2000, Microsoft was charged with being an illegal monopoly. Although a district court ordered it to be broken up, the structural remedy was not used and the directive was overturned on appeal. In its place a behavior remedy was adopted whereby Microsoft was prohibited from engaging in selected anti competitive practices.
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As disposable income decreases, consumption
A. and saving both increase. B. decreases and saving increases. C. and saving both decrease. D. increases and saving decreases.
A competitive (price-taking) firm will produce so long as its economic profit is sufficiently above zero to enable the firm to pay the owners of the firm for their time and effort.
Answer the following statement true (T) or false (F)
Use the above figure. The long-run Phillips curve is best depicted by graph
A) A. B) B. C) C. D) D.
When the U.S. price level decreases, we would expect a:
A. movement up along the aggregate supply curve. B. movement down along the aggregate demand curve. C. shift to the right of the aggregate demand curve. D. shift straight up of the aggregate demand curve.