The Sherman Antitrust Act prohibits price-fixing in the sense that
a. competing executives cannot even talk about fixing prices.
b. competing executives can talk about fixing prices, but they cannot take action to fix prices.
c. a price-fixing agreement can lead to prosecution provided the government can show that the public was not well-served by the agreement.
d. None of the above is correct. The Sherman Act did not address the matter of price-fixing.
a
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Assume that transportation costs are especially high for Widgets in the two-country, two-product Ricardian model, and Country A enjoys a comparative advantage in Widgets, then
A) country B must also enjoy a comparative advantage in Widgets. B) country B may end up exporting Widgets. C) country A may switch to having a comparative advantage in the other good. D) country A will still export Widgets. E) Trade may be impossible between the two countries.