The Clayton Act allowed board members of one corporation to sit on the board of a competing firm as long as inside information was not transmitted

A firm uses labor and capital in its production process, and it faces competitive markets for its inputs and output. The firm's long-run labor demand curve

A) intersects with the short-run labor demand curve in several points. B) is exactly identical to its short-run labor demand curve. C) is steeper than its short-run labor demand curve. D) is flatter than its short-run labor demand curve.

In an unregulated, competitive market producer surplus exists because some

A) consumers are willing to pay more than the equilibrium price. B) producers are willing to take more than the equilibrium price. C) producers are willing to sell at less than the equilibrium price. D) consumers are willing to purchase, but only at prices below equilibrium price.