This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Antitrust cases that are brought to the courts by the Justice Department typically rely on perfect ... (Read 120 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
Antitrust cases that are brought to the courts by the Justice Department typically rely on perfect competition as a benchmark for lawyers to determine whether a firm is competitive or monopolistic.
 
  Why is this a troublesome criterion to use in prosecuting such cases?

Question 2

Distinguish between comparative advantage and absolute advantage.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 29, 2018
Answer to Question 1

It is troublesome because there are no instances of pure competition in the real world. Therefore regulators are using a benchmark that lacks realism.

Answer to Question 2

A person has a comparative advantage in producing a good when he or she has the lowest opportunity cost of producing it. Comparative advantage is based on the output forgone. A person has an absolute advantage in production when he or she uses the least amount of time or resources to produce one unit of that particular good or service. Absolute advantage is a measure of productivity in using inputs.


Kthamas

  • Member
  • Posts: 546
Reply 2 on: Jun 29, 2018
:D TYSM

Jsherida

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han
PIC PERFECT PIC PERFECT
Leading Sites of New Cases of Cancer Worldwide, 2012 Leading Sites of New Cases of Cancer Worldwide, 2012
Polio eradication campaign in Georgia in the 1950s. In the 1950s, 20,000 cases of polio occurred ... Polio eradication campaign in Georgia in the 1950s. In the 1950s, 20,000 cases of polio occurred ...
Influences on Temperature: South-facing slopes are typically more vegetated than north-facing ... Influences on Temperature: South-facing slopes are typically more vegetated than north-facing ...
Estimated New Cases of Selected Cancers in the USA, 2012 Estimated New Cases of Selected Cancers in the USA, 2012
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library