The 1890 Sherman Antitrust Act makes it illegal for firms to:
a. raise prices in an attempt to increase profits.
b. engage in tacit collusion.
c. engage in price discrimination.
d. behave together like a monopolist.
Ans: d. behave together like a monopolist.
Economics
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When demand is elastic, an increase in price causes the seller's total revenue to:
A. decrease. B. increase. C. fall to zero. D. remain the same.
Economics
Under adaptive expectations theory, an increase in the short-run aggregate demand curve ____ the inflation rate and ____ the unemployment rate
a. increases; increases b. increases; decreases c. increases; does not change d. decreases; increases
Economics