The point where quantity demanded and quantity supplied are equal is known as the

Which of the following statements is not true? a. Oligopolies usually have few firms each with some significant degree of market power

b. Only a small percentage of industries have four-firm concentration ratios above 85 percent. c. Market price is related to the concentration ratio. d. The United States is becoming more oligopolistic. e. Karl Marx believed the United States was becoming more oligopolistic.

The "rule of reason" indicated that:

A. if less than four firms account for three-fourths of an industry's sales, the industry is in violation of the Sherman Act. B. social regulation should not be enforced unreasonably so that costs exceed benefits. C. the mere possession of monopoly power is a violation of the antitrust laws. D. only contracts and combinations that unreasonably restrain trade violate the antitrust laws.