Which of the following arguments could be made as evidence that the market for cage-free eggs is perfectly competitive?
A) As more farmers began selling cage-free eggs, the increase in supply has driven down prices to the point where they just cover the cost of production.
B) Sales of cage-free eggs have increased at a rate of 20 percent per year.
C) The profits earned by farmers who sell cage-free eggs have continued to grow, despite the increasing number of farmers entering this market.
D) The U.S. Department of Agriculture has established standards for the labeling of cage-free eggs.
A
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Mercantilism held that
A) silver alone was the mainstay of national wealth. B) gold alone was the mainstay of national wealth. C) silver and gold were the mainstays of national wealth. D) silver and gold are not important for national wealth of a country. E) labor forces were the mainstay of national wealth.
What was the first important law regulating monopoly that prohibited "restraint of trade"?
a. Sherman Act b. Robinson-Patman Act c. Cellar-Kefauver Act d. Clayton Act