The primary purpose of antitrust legislation is to:
a. protect small business.
b. protect the competitiveness of U.S. business.
c. protect the prices of American-made products.
d. ensure American labor is paid a fair wage.
e. ensure firms earn only a fair profit.
b
Economics
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If the demand for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, the demand curve
A) is elastic. B) has a unitary elasticity. C) is inelastic. D) is perfectly inelastic.
Economics
The above figure shows the cost curves for a competitive firm. If the market price is $15 per unit, the firm will earn profits of
A) $0. B) $4. C) $40. D) $160.
Economics