Which of the following antitrust laws forbade firms to engage in price discrimination if the effect would lessen competition or create a monopoly?
A) the Cellar-Kefauver Act B) the Clayton Act
C) the Robinson-Patman Act D) the Sherman Act
C
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In the 1980s, banks lost many of their __________ borrowers, because these borrowers were able to sell their commercial paper to __________
A) small; savings-and-loan associations B) small; money market mutual funds C) large; savings-and-loan associations D) large; money market mutual funds
The problems of physical distance can be _____________ by technology which can serve to ___________ trade
A) increased; discourage B) reduced; enhance C) increased; enhance D) reduced; discourage
Exhibit 7-8 A firm's cost and marginal revenue curves
?
In Exhibit 7-8, product price in this market is fixed at $35. This firm is currently operating where MR = MC. What do you advise this firm to do?
A. This firm should shut down. B. This firm could increase profits by increasing output. C. This firm could increase profits by decreasing output. D. This firm should continue to operate at its current output.
Advocates of activist policymaking point to the swift response of the Fed after September 11, 2001, as an example of effective policymaking.
Answer the following statement true (T) or false (F)