The Federal Trade Commission was established in 1914 to
A) regulate trade of public goods.
B) promote competition in interstate commerce.
C) investigate unfair competitive practices.
D) prevent non-price competition.
Correct answer is C) investigate unfair competitive practices.
You might also like to view...
Use the figure above to answer this question. Consider a perfectly competitive firm in a short-run equilibrium. Figure ________ shows a firm in bad times because the firm makes a(n) ________
A) A; economic loss of $4 per unit if the firm decides to operate B) A; economic loss of $4 so it must close C) B; economic loss of $3 per unit D) B; economic profit because the price exceeds average variable cost E) C; normal profit and can stay open in the long run
The price elasticity of demand is equal to
A) the percentage change in quantity demanded divided by the percentage change in price. B) the change in quantity demanded divided by the change in price. C) the percentage change in price divided by the percentage change in quantity demanded. D) the value of the slope of the demand curve.