In the U.S. Steel case, the Supreme Court
A. broke up the company because it was big.
B. applied the rule of reason.
C. applied the 60% rule.
D. determined that the company had violated the Sherman Antitrust Act.
B. applied the rule of reason.
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Which of the below outcomes is the result of a Nash equilibrium in pure strategies for the game in Scenario 13.10?
A) -5, 5 B) 10, -10 C) 8, -8 D) 0, 0 E) There is no pure strategy equilibrium in this game.
If the demand for good A is more elastic than the demand for good B, a small increase in supply in both markets will cause
a. a much greater increase in the equilibrium quantity of good A than for good B b. a much greater increase in the equilibrium quantity of good B than for good A c. the equilibrium quantity will decrease by the same amount in both markets d. only the equilibrium quantity of good B will decrease e. only the equilibrium quantity of good A will decrease