Vertical relationships can increase profits through

The longer the time period under study,

a. the more elastic is the price elasticity of demand. b. the less sensitive consumers will be to price changes. c. the less adjustment consumers will make to price changes. d. the more inelastic is the price elasticity of demand. e. the more likely any given price cut will result in a smaller reaction by the consumer.

Which of the following is true of the per se rule?

a. The per se rule was used by U.S. courts from 1914 until the 1920s. b. The per se rule had the effect of making antitrust policy more liberal. c. According to the per se rule, activities that were potentially monopolizing tactics were illegal. d. The per se rule did not allow the mere existence of anti-competitive activities to be sufficient evidence for a guilty verdict. e. The per se rule was revived by Bush administration.