The purpose of antitrust legislation is
A) to reduce unemployment.
B) to reduce the power of monopoly.
C) to increase the power of monopoly.
D) to maximize employment for a given price level.
Answer: B
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The above figure shows a perfectly competitive firm. If the market price is $20 per unit, the firm
A) will definitely shut down to minimize its losses. B) will stay open to produce and will make zero economic profit. C) will stay open to produce and will incur an economic loss. D) will stay open to produce and will make an economic profit. E) might shut down but more information is needed about the fixed cost.
All of the following are part of the "state health insurance marketplaces" provision of the Patient Protection and Affordable Care Act (ACA) except
A) small businesses with fewer than 50 employees are exempt from being required to participate in the program. B) the marketplaces offer health insurance policies that meet certain specified requirements. C) each state is required to establish an Affordable Insurance Exchange. D) low-income individuals are eligible for tax credits to offset the costs of buying health insurance.