In order to obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
a. only that an attempt to fix prices was made.
b. that there was a price-fixing agreement that actually lessened competition.
c. that there was a high concentration ratio for the industry.
d. all of these.
a
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Stocks and bonds issued in markets-oriented financial systems are rather __________ because they are traded __________
A) liquid; frequently B) liquid; infrequently if at all C) illiquid; frequently D) illiquid; infrequently if at all
The figure below shows the U.S. market for imported wine. For simplicity, we consider export supply curves to be flat. Chilean wine is available for $480 per barrel and French wine is available for $420 per barrel.
Suppose the United States has a tariff of $80 per barrel on imported wine. Then, the United States joins a free-trade area with Chile. How many barrels of wine will the United States import after joining the free-trade area?
A. 15 million barrels B. 10 million barrels C. 22 million barrels D. zero barrels