When a court uses the per se rule to interpret the Sherman Antitrust Act, its ruling is based on market conduct alone
a. True
b. False
A
You might also like to view...
When the firm produces the quantity that sets marginal revenue equal to marginal cost, a perfectly competitive firm is
A) determining the price it will set. B) maximizing its revenues. C) maximizing its profit. D) establishing its shutdown point.
A firm is a natural monopoly if ________
A. it can produce the good at a price below its competitor's price B. it can produce a larger quantity of the good than other firms could C. the government grants it a public franchise or patent D. it can satisfy the market demand at a lower average total cost than other firms can
The consumer price index (CPI) was 180 for 2009 when using 1995 as the base year (1995 = 100). Now suppose we switch and use 2009 as the base year (2009 = 100). What is the CPI for 1995 with the new base year?
A) 18.0 B) 55.6 C) 80.0 D) 111.2
Deadweight loss results from:
a. equilibrium. b. underproduction. c. overproduction. d. none of the above are correct. e. Either b or c.