In which of the following cases did the U.S. Supreme Court decide that a corporation was an "individual" but not a constitutional citizen?
(a) Nebbia v New York (1934)
(b) Munn v Illinois (1877)
(c) McCulloch v Maryland (1819)
(d) Dartmouth College v Woodward (1819)
(d)
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You have just purchased 100 shares of the stock of Microsoft Corporation. This places you in the role of
A) principal. B) incentive system operator. C) agent. D) long-term contractor.
An oligopoly showing no economic profit or loss has
a. an AR curve tangent to the lowest point of its ATC curve. b. an AR curve tangent to its ATC curve to the left of the lowest point. c. an MR curve above its AR curve. d. an AR curve that crosses its ATC curve.
The incidence of a tax refers to
A. who actually collects the tax. B. how frequently the tax is collected. C. who bears the economic burden of the tax. D. how the tax affects prices or wages.
Why would a firm in balanced oligopoly choose a tit-for-tat strategy?