Middlemen are individuals who
a. add to the buyer's expense without performing a useful function.
b. add to the seller's cost without performing a useful function.
c. provide services that reduce the cost of transactions and help achieve additional gains from trade.
d. act as a middle person between the top management of a business firm and the hourly employees who actually produce the goods and services.
C
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The table above shows the marginal benefit from pizza and the marginal cost of pizza in cans of soda forgone. The allocatively efficient quantity of pizza is ________ pizzas per day
A) 70 B) 10 C) more than 70 D) 40
________ made illegal every conspiracy in restraint of trade or commerce among the several states.
A. The Humphrey-Hawkins Act B. The Clayton Act C. The FTC Act D. The Sherman Antitrust Act