Drivers are charged a price to use a tollway. But even tollways, such as the Tri-State Tollway near Chicago, become heavily congested during the morning and evening rush hours. Thus,
A) the rush hour represents a surplus of cars.
B) your textbook author is wrong in claiming congestion is caused by zero prices.
C) higher tolls are required during rush hours to reduce congestion.
D) growing population is indeed the problem.
C
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Which of the following events would increase the supply of tomatoes?
a. an increase in the demand for tomatoes b. an increase in the wages of people harvesting tomatoes c. a decrease in the cost of fertilizer for tomato plants d. an increase in the price of tomatoes e. a decrease in the price of tomatoes
If the courts apply the rule of reason criterion to a firm that dominates a market but does not engage in anticompetitive behavior, it would not find the firm to be in violation of the antitrust laws
Indicate whether the statement is true or false