In U.S. v. U.S. Steel Corporation, the Supreme Court ruled that
a. U.S. Steel had violated the Sherman Act, particularly by organizing meetings with competitors such as the "Gary Dinners.".
b. despite the fact that U.S. Steel controlled 50 percent of output in the steel industry, the company had not achieved monopoly power.
c. large corporations, by definition, violate the Sherman Act.
d. the Sherman Act did not apply to U.S. Steel because steel manufacturing was an activity "clothed with a public interest.".
b. despite the fact that U.S. Steel controlled 50 percent of output in the steel industry, the company had not achieved monopoly power.
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Assume that the United States imposes a quota on Scottish wool suits. Relative to the equilibrium price that would exist in the absence of quotas, the equilibrium price of suits in the United States will most likely _______ , and the equilibrium price of suits in Scotland will most likely _______ .
A) remain the same; decrease B) remain the same; increase C) increase; increase D) increase; decrease
Liquidity is
A. The opportunity cost of purchasing a bond. B. Low for cash. C. Not important for bondholders. D. The ability of an asset to be converted to cash.