Which of the following would fall under the "rule of reason doctrine?"
a. General Motors colludes with Ford to fix the price of their cars
b. Coke and Pepsi collude to limit the quantity of soft drinks on the market
c. Intel dominates the market for computer processors with a 95% market share
d. Reynolds American, Inc. and Lorillard, Inc. agree to limit the introduction of new cigarette brands
e. two local restaurants agree to increase their prices by 10%
C
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If an overvalued currency is allowed to float:
A) its quantity demanded in exchange for the other currency will decrease. B) its quantity supplied in exchange for the other currency will increase. C) its value will depreciate. D) its value will appreciate.
Which of the following statements is correct? With respect to efficiency wage models,
a. their key element is an explanation of why the efficiency (or productivity) of workers depends on the real wage. b. the rationale underlying those models implies that firms will set the real wage above the market clearing level. c. they explain a real wage rigidity. d. all of the above