It costs firm A $800 to produce five radios and it costs firm B $500 to produce five batteries. If Firm A merges with firm B, it can produce both the five radios and the five batteries for $1500 . The firm has experienced

According to the Keynesian fixed wage theory, real wages should be

a. positively correlated with income. b. not correlated with income. c. fixed. d. negatively correlated with income.

One weakness of the Sherman Act is that

A) it fails to clearly define restraint of trade. B) it applies only to foreign monopolies. C) it applies only to the steel and railroad industries. D) none of the above.