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 60 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
Great answer, keep it coming :)

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Acute exacerbations of asthma can require management in the emergency department. The child is place Acute exacerbations of asthma can require management in the emergency department. The child is place
Young children typically are boundlessly curious about the world around them. Young children typically are boundlessly curious about the world around them.
A physical therapist exercising the patient’s leg in a physical therapy department. A physical therapist exercising the patient’s leg in a physical therapy department.
Asomatognosia typically involves damage to the right parietal lobe. Asomatognosia typically involves damage to the right parietal lobe.
Strategic Management: Concepts and Cases Strategic Management: Concepts and Cases
Estimated New Cases of Selected Cancers in the USA, 2012 Estimated New Cases of Selected Cancers in the USA, 2012
Video: Status Epilepticus

For a complete list of videos, visit our video library