Related to the Economics in Practiceon p. 296: According to the ...

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Question 1

Related to the 
Economics in Practice on p. 293: In the price-fixing case against the Taiwanese firm AU Optronics, the DOJ claimed that the price fixing resulted in ________ paying more for products with LCD screens.

◦ consumers
◦ businesses
◦ government agencies
◦ All of these are correct.

Question 2

Related to the 
Economics in Practice on p. 296: According to the 
Economics in Practice, in a town with multiple newspapers

◦ there are strong incentives for firms to differentiate and focus on the part of the market with less competition.
◦ there are strong incentives for firms to produce a similar product and focus on the part of the market with the most competition.
◦ there are virtually no incentives for firms to differentiate and focus on the part of the market with less competition.
◦ there is virtually no possibility for firms to produce a similar product and remain in business.

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[k2629]

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