December 2020

Under the Clayton Act, horizontal mergers by stock acquisition were a. not considered. b. illegal if they could be shown to lessen competition. c. illegal under any circumstances. d. legal if they could be shown to lessen competition.

Under the Clayton Act, which of the following was illegal even if it was not shown to lessen competition substantially? a. Price discrimination b. Tying contracts c. Horizontal mergers by stock acquisition d. Interlocking directorates

All written assignments should be well organized and well written with correct grammar, word choice, punctuation, and spelling. Your writing should be clear and coherent. When you have utilized the thoughts or words of others, you must either paraphrase or quote directly and document the source in proper APA format.1. Select one social science code

The profit-maximizing firm in Exhibit 6 creates water and air pollution as a consequence of producing its output of beef cattle. If pollution costs are borne by third parties, the firm will maximize economic profit by choosing to a. voluntarily incur costs to reduce its pollution. b. produce at output rate Q3. c. produce at output

To maximize social welfare, the firm in Exhibit 6 should produce at output rate a. Q1. b. Q2. c. Q3. d. Q4.

As shown in Exhibit 7, if Orville has the property right to fly over Wilbur’s house, but Wilbur is allowed to negotiate with Orville on the number of flights, what will be the number of flights? a. 2 b. 3 c. 4 d. 5

As shown in Exhibit 7, if Wilbur has the property right to have no planes flying over his house, but Orville is allowed to negotiate with Wilbur, what will be the number of fights? a. 2 b. 3 c. 4 d. 5

As shown in Exhibit 7, at the socially efficientnumber of flights, what will be the market value of Orville’s house? a. $100,000 b. $95,000 c. $90,000 d. $85,000 e. $80,000

 According to the theory of comparative advantage, a country should produce and a. import goods in which it has an absolute advantage. b. export goods in which it has an absolute advantage. c. import goods in which it has a comparative advantage. d. export goods in which it has a comparative advantage. Q6:  In Exhibit

 A tariff increases a. the quantity of imports. b. the ability of foreign goods to compete with domestic goods. c. the prices of imports to domestic buyers. d. all of the above.