The Sherman Antitrust Act of 1890
a. immediately reduced the number of trusts and the incidence of anticompetitive behavior
b. established the Antitrust Division of the Department of Justice
c. did not apply to farmers
d. was not fully enforced at first
e. prohibited price discrimination
D
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Which of the following statements about the Sherman Act is CORRECT?
A) The Sherman Act was the second federal antitrust law. B) The Sherman act legalized monopolization if the company behaved "reasonably" once it became a monopoly. C) The Sherman Act outlawed natural monopolies. D) The Sherman Act made restriction of interstate trade illegal.
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, what are the profits from sales to each of the high-demand consumers?
A. $9.38 B. $28.13 C. $153.13 D. $1.00
The aggregate expenditure line is drawn on a graph that measures:
a. real GDP on the horizontal axis and aggregate expenditure on the vertical axis. b. aggregate expenditure on the horizontal axis and real GDP on the vertical axis. c. consumption on the horizontal axis and aggregate expenditure on the vertical axis. d. aggregate expenditure on the horizontal axis and consumption on the vertical axis. e. investment on the horizontal axis and aggregate expenditure on the vertical axis.
Karen, Tara, and Chelsea each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and paperback novels cost $8 each. Karen has a budget of $80, Tara has a budget of $60, and Chelsea has a budget of $40 to spend on ice cream and paperback novels. Who can afford to purchase 5 gallons of ice cream and 8 paperback novels?
a. Karen, Tara, and Chelsea b. Karen only c. Tara and Chelsea but not Karen d. none of the women