The fundamental reason to study economics is to study
a. how choices are made.
b. how production is determined.
c. how countries trade with each other.
d. how finances are determined.
a. how choices are made.
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In the United States, major league baseball is exempt from antitrust laws. Before 1975, the baseball team owners agreed to hold an annual draft of amateur baseball players
Once the players were drafted and signed by a team, they were effectively tied to that team for life. This allowed baseball owners to operate like ________ in the market for player services. A) perfect competitors B) monopolistic competitors C) a monopsonistic cartel D) a monopoly
Which of the following mergers would result from the purchase of a computer chip company by IBM?
a. A horizontal merger. b. A vertical merger. c. A conglomerate merger. d. An interlocking merger.