The Sherman Antitrust Act of 1890 is the federal antitrust law that prohibits:
A. monopolization and conspiracies to restrain trade.
B. mergers the substantially lessen competition.
C. exclusive dealing, tying contracts, and interlocking directorates.
D. unfair methods of competition in commerce.
Answer: A
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Tariffs and import quotas both decrease the amount of a good consumed and raise the price paid by domestic residents for the good
Indicate whether the statement is true or false
If a monopolist's profits were taxed away and redistributed to its consumers,
A) inefficiency would remain because output would be lower than under competitive conditions. B) inefficiency would remain, but not because output would be lower than under competitive conditions. C) efficiency would be obtained because output would be increased to the competitive level. D) efficiency would be obtained because output would be increased and profits removed.