Although U.S. Steel controlled nearly 75 percent of the domestic iron and steel industry, in 1920 the Supreme Court ruled that the firm was not in violation of the Sherman Antitrust Act because there was no evidence of abusive behavior. What antitrust doctrine was the court applying in this case?

When Gabriel made a rational choice to spend his entire allowance on candy bars, he did so by comparing the

A) benefits of the candy bars to the desires he had for the candy bars. B) marginal benefits of the candy bars to the marginal costs of the candy bars. C) opportunity costs of the candy bars to the scarcity of the candy bars. D) benefits of the candy bars to the scarcity candy bars. E) self-interest to the social interest.

Because of a decrease in labor costs, a monopoly finds that its marginal cost and average total cost have decreased. The monopoly ________ its price and ________ its quantity

A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases