Which statement is true?
A. The Federal Trade Commission Act is the most important antitrust law on the books.
B. The most important antitrust legislation was passed in the last three decades.
C. The Clayton Act outlawed interlocking directorates.
D. None of these statements are true.
C. The Clayton Act outlawed interlocking directorates.
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For a profit-maximizing monopolist, the price of a product is: a. always equal to marginal revenue
b. always greater than marginal revenue. c. always less than marginal revenue. d. always equal to the average total cost of production.
Suppose the price of good X falls and the consumption of good X increases. From this we can infer that X is a(n) (i) normal good. (ii) inferior good. (iii) Giffen good
a. (i) only b. (i) or (ii) only c. (iii) only d. (ii) or (iii) only