A zero pollution level is not achievable because
A) corporations would lobby against it.
B) it implies no production and no consumption.
C) it implies an output level larger than that from a competitive market equilibrium.
D) consumption would be larger than production.
B
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An aggregate supply curve shows the:
A. level of real domestic output that will be purchased at each possible price level. B. price level at which real domestic output will be purchased. C. price level at which real domestic output will be in equilibrium. D. level of real domestic output that will be produced at each possible price level.
Suppose that in an industry, firm X has 50 percent market share, firm Y has 35 percent market share, and firm Z has 10 percent market share. Which of the following mergers is NOT likely to be challenged by the Federal Trade Commission?
A. a merger between firms X and Z B. a merger between firms Y and Z C. a merger between firms X and Y D. Any merger of two firms among those firms is likely to be challenged.