Author Question: Under U.S. antitrust law, a consent decree allows a firm to a. admit to an antitrust violation ... (Read 52 times)

Brittanyd9008 · **on:** Jun 30, 2018

Under U.S. antitrust law, a consent decree allows a firm to
a. admit to an antitrust violation without penalty
b. admit to an antitrust violation without a lawsuit
c. challenge the government's accusation in court
d. cease the alleged wrongdoing without admitting guilt
e. cease the alleged wrongdoing only by admitting guilt

Question 2

Tim Tupper's term paper-typing business is a perfectly competitive firm in long-run equilibrium. Which of the following does not describes the firm's situation?
a. It will be minimizing average total cost.
b. It will be charging a price equal to marginal cost.
c. It will be charging a price equal to average total cost.
d. It will be earning a normal profit.
e. Entrepreneurs outside the industry will be eager to enter.