In the U.S., the ________ and the ________ prohibit firms from explicitly agreeing to take actions that reduce competition
A) Department of Justice Act; Federal Trade Commission Act
B) Sherman Antitrust Act; Federal Trade Commission Act
C) Per Se Act; Sherman Antitrust Act
D) Pareto Act; Anti-Cartel Act
B
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Jack was unemployed two weeks ago but just started a new job. As a result of this increase in the number of employed workers, which of the following occurred?
A) The labor force participation rate increased. B) The unemployment rate decreased. C) The unemployment rate increased. D) The labor force participation rate decreased.
Which of the following is likely to have the most price elastic demand?
a. laptop computers b. tablets c. Microsoft® Surface tablets d. cell phones
A merger of several firms operating in different industries—for example, a trucking company, a fast-food chain, and a brokerage house—is called:
A. an integrated merger. B. a conglomerate merger. C. a vertical merger. D. a horizontal merger.
Assume Claudia's budget constraint is demonstrated by line A in the graph shown. Which of the following would cause Claudia's budget constraint to shift to line C?
A. The price of movie tickets dropped. B. Claudia's preferences for these two goods decreased. C. The price of books dropped. D. Claudia's income decreased.