In a zero-sum game
A) the gains of one player are less than the gains of the other player.
B) the gains of one player are greater than the gains of the other player.
C) the gains of one player directly reflect the losses of another player.
D) the gains and losses of players are all expressed in zeros.
C
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A perfectly competitive firm is selling 300 units of output at $4 each. At this output level, total fixed cost is $100 and total variable cost is $500. The firm
A) is maximizing its profit. B) is earning a profit, but not necessarily the maximum profit. C) is experiencing an economic loss. D) should shut down.
If a firm offers quantity discounts or special promotional allowances only to favored distributors and the effect is to substantially lessen competition, then it is in violation of the:
a. Clayton Act. b. Robinson-Patman Act. c. Sherman Antitrust Act. d. Federal Trade Commission Act. e. Celler-Kefauver Act.