One consequence of airline deregulation in the 1980s was an increased concentration ratio.
Answer the following statement true (T) or false (F)
True
Although airline deregulation is hailed as one of the greatest policy achievements of the 1980s, airline industry structure and behavior remain imperfect. Of particular concern has been the sharp increase in the industry's concentration ratio in the last 10 years.
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During this century, court decisions on antitrust have:
a. changed from per se, to rule of reason, and back to per se. b. changed from rule of reason, to per se, and back to rule of reason. c. always emphasized per se. d. always emphasized rule of reason. e. varied from judge to judge without following any pattern.
In monopolistically competitive markets in long run equilibrium: a. more than the efficient level of output will be produced because price exceeds marginal cost
b. less than the efficient level of output will be produced because price exceeds marginal cost. c. more than the efficient level of output will be produced because marginal revenue exceeds marginal cost. d. less than the efficient level of output will be produced because marginal revenue exceeds marginal cost.