Author Question: Unlike perfectly competitive firms, monopolists can a. earn positive short-run economic profit even ... (Read 92 times)

fnuegbu · **on:** Jun 30, 2018

Unlike perfectly competitive firms, monopolists can
a. earn positive short-run economic profit even if price is less than average variable cost at all rates of output
b. sell any quantity of output at any price they choose
c. earn long-run economic profits
d. reduce the sales of other firms in the industry through advertising
e. face a perfectly elastic demand curve

Question 2

The first federal antitrust law enacted in the United States was:
a. The Clayton Act
b. Thr Sherman Antitrust Act
c. The Robinson Patman Act
d. The Federal Trade Commission Act
e. The Herfindahl-Hirschman Act