The argument that a large firm dominating an industry will not necessarily act like a monopolist, as expressed in the 1920 U.S. Steel case, suggests that the application of antitrust laws should be based on firm:

A unit tax

A) is based on the value of the good being sold. B) is a constant tax assessed on each unit of a good sold. C) is the primary tax studied in dynamic tax analysis. D) does not influence equilibrium price and quantity.

Which of the following statements is true?

A. Conservative economists focus on incentives, and liberal economists do not. B. Most economists discredit individuals' abilities to choose reasonably. C. Liberal and conservative economists differ less often than laypeople think they do. D. Liberal economists focus on individual choice, and conservative economists do not.