In the Utah Pie case, the economic effect of the Supreme Court decision was to:
a. prohibit the merger of two small pie companies.
b. encourage competition by ruling that the national competitors had engaged in illegal price discrimination.
c. encourage competition by ruling that the national competitors had not engaged in illegal price discrimination.
d. discourage competition by national competitors in the Salt Lake City market.
d
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Assuming the inverse demand function for good Z can be written as P = 90 - 3Q, the corresponding total revenue function is:
A) 6Q. B) 90 - 6Q. C) 90 - 3Q. D) 90Q - 3Q2.
The problem of dead capital can be eliminated by
A) changing the structure of import tariffs. B) increasing the labor force participation rate. C) making it easier for people to establish legal ownership of productive capital. D) restricting population growth.