Exam 13: Antitrust and Regulation
Exam 1: Introducing the Economic Way of Thinking251 Questions
Exam 2: Production Possibilities, Opportunity Cost, and Economic Growth202 Questions
Exam 3: Market Demand and Supply412 Questions
Exam 4: Markets in Action253 Questions
Exam 5: Price Elasticity of Demand and Supply280 Questions
Exam 6: Consumer Choice Theory272 Questions
Exam 7: Production Costs243 Questions
Exam 8: Perfect Competition237 Questions
Exam 9: Monopoly168 Questions
Exam 10: Monopolistic Competition and Oligopoly187 Questions
Exam 11: Labor Markets202 Questions
Exam 12: Income Distribution, Poverty, and Discrimination130 Questions
Exam 13: Antitrust and Regulation203 Questions
Exam 14: Environmental Economics106 Questions
Exam 15: International Trade and Finance241 Questions
Exam 16: Economies in Transition108 Questions
Exam 17: Growth and the117 Questions
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Under the original Sherman Antitrust Act, violators were guilty of a misdemeanor.
(True/False)
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Exhibit 13-3 A monopolist
-In Exhibit 13-3, if this industry is regulated and the regulatory commission wants revenue to just cover cost, the proper price and output combination to be set is:

(Multiple Choice)
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Violations of the Sherman Antitrust Act have sometimes been punished by breaking up the offending firm into a number of smaller firms.
(True/False)
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Deregulation, especially for the transportation and telecommunication industries, was the trend in the United States during the:
(Multiple Choice)
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The Sherman Antitrust Act makes cartels illegal in the United States.
(True/False)
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Campbell Soup agrees to sell its brand to a grocery chain only if the chain also agrees to buy a minimum number of cases of its V-8 juice. This is an example of:
(Multiple Choice)
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If a regulatory commission sets the regulated price equal to marginal cost for a natural monopoly:
(Multiple Choice)
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"Good" trusts were exempt from antitrust prosecution under the:
(Multiple Choice)
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In the United States during the 1980s, there was a movement toward deregulation of industry.
(True/False)
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The government will have to subsidize a natural monopoly in the long run if regulators choose to pursue:
(Multiple Choice)
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The purchase of the assets of one steelmaker by another steelmaker might be a violation of the:
(Multiple Choice)
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Exhibit 13-2 Public utility monopolist
-As shown in Exhibit 13-2, an unregulated monopolist would operate at point:

(Multiple Choice)
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The Robinson-Patman Act strengthened the merger provisions of the Sherman Antitrust Act.
(True/False)
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