The law of demand applies to
A) clean streets.
B) clean air.
C) clean water.
D) the maintenance endangered species.
E) all of the above.
E
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Economists played a key role in the development of merger guidelines by the Department of Justice and the Federal Trade Commission in 1982. These guidelines have three main parts. What are these parts?
A) market definition; measure of concentration; merger standards B) economic analysis; political analysis; dynamic analysis C) concentration ratios; the Herfindahl-Hirschman Index; market standards D) concentration standards; concentration ratios; competitive analysis
The notion of "purposeful behavior" in the economic perspective suggests that:
A. People will tend to stick with a particular choice for a long period of time B. Economic analysis will provide people with a single "right" way to behave C. Economists do not believe that people can sometimes behave impulsively D. One person's choice may differ from another's if their circumstances and information differ