If more firms enter the telecommunications industry, we can expect the equilibrium price of telecom services to decrease and the equilibrium number of services to increase

What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?

a. the Celler-Kefauver Anti-Merger Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Clayton-Celler Act

Under conditions of perfect competition, an individual producer

a. always maximizes output. b. operates where MR equals MC. c. never suffers a loss. d. operates where MR is greater than MC.