To identify the product market, antitrust agencies use
A) qualitative, but not quantitative tools.
B) both qualitative and quantitative tools.
C) quantitative, but not qualitative tools.
D) territorial restrictions
B) both qualitative and quantitative tools.
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The question "Should economics majors or sociology majors earn more after they graduate?" is an example of a ________ question
A) what B) how C) for whom D) where E) why
A farmer who sells September corn futures at the time he plants his corn in May is
A) competing against speculators, who profit from price fluctuations. B) increasing his risk from price fluctuations. C) reducing his risk from price fluctuations. D) reducing or increasing his risk from price fluctuations, depending on what subsequently happens to the price of corn.
Marginal utility will generally decrease when:
a. more of a particular good is consumed. b. less of a particular good is consumed. c. average utility is the least. d. per capita utility is the least. e. the TU curve's slope is positive rather than negative.
At low levels of production, the firm
a. benefits from increased size because it can take advantage of greater specialization. b. has the potential for economies of scale. c. is unlikely to experiences acute problems with coordination. d. All of the above are correct.