This topic contains a solution. Click here to go to the answer

Author Question: According to the U.S. Supreme Court's 1920 ruling on U.S. Steel, a. all monopolies are illegal b. ... (Read 55 times)

Anajune7

  • Hero Member
  • *****
  • Posts: 574
According to the U.S. Supreme Court's 1920 ruling on U.S. Steel,
 a. all monopolies are illegal
  b. all oligopolies violate the Sherman Antitrust Act
  c. large firms cannot be found to be in violation of the Sherman Antitrust Act
  d. mere size is no offense
  e. possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act

Question 2

Suppose that a long-run adjustment in a perfectly competitive industry results in decreased industry output but leaves price unchanged. Which of the following must be true?
 a. The market demand curve did not shift
  b. The market demand curve shifted left; the market supply curve shifted right
  c. The market supply curve shifted left; the market demand curve shifted right
  d. Both market supply and demand increased, but supply increased more than demand
  e. The industry is a constant-cost industry



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

LVPMS

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

D

Answer to Question 2

E




Anajune7

  • Member
  • Posts: 574
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

For a complete list of videos, visit our video library