Of the following, the best example of private information is when
A) Michael knows the price of a gallon of milk at the minimart but Michelle doesn't know.
B) you know some of your used car's defects but a potential buyer cannot find out about them until after buying.
C) you don't know the quality of a used car and must hire a trained mechanic who tells you all its defects.
D) you pay the owner of a used car a little extra and she lets you know all of the car's defects.
B
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In the above figure, if the minimum wage is set at $2 per hour, what quantity of labor is employed?
A) 100 million hours B) 200 million hours C) 300 million hours D) 400 million hours
The decision in the U.S. Steel case:
A. reflected a behavioralist approach to antitrust. B. reflected a structuralist approach to antitrust. C. divided U.S. Steel into a number of smaller companies. D. ruled that U.S. Steel had engaged in illegal price-fixing.