Question

Choose the answer to each blank: Are interlocking directorates illegal per se?Is price fixing illegal per se?, a. yes/no b. yes/yes c.no/no d. no/yes OC 16. Technollogioel diseminton oe d ion Gthe d of ew ges gh e ndt price taler merket bends to ope btake place a pid s take place st a slow be consten be egl ned by harrirs to ery barriers o US ws 17. The Aeon attr case was important becae it seeed to make a m wih gea d per se of monopoly not guilty per se of moopoly b. tto the rule of eascn. guilty of price falng d 18. When one encountes he term "monopoly" in tit wn r in ge pble g, ly tor one single firm in the indutry d any market with very inelastic demand c strong oligopolies d monopolistic competition price takers gone wild 19. In price discrimination, arbitrage ocours wben customers in the elastic market bay in the inelastic market b customers in the inslautic makt buy in the elatic market third parties buy in the elastic market nd sell in the inelastic market d. third parties bay in the inelstic market nd selll in the elastic market everyone is charged a bigher price 20. All price support progrms will always create a a. lower market price b. fairer price c. shortage d. surplus e. better equilibriam 21. A technological innovation that lowers costs in a price searcher market. a. will always lower price b. will always leave the price unchanged c. will always increase price d. could lower price, or increase profits, depending on the barriers to entry 22. The Law of Diminishing Returns argued that, in the short run b. unit costs rise at first as output increases, but then decline as more is produced the elasticity of demand falls over time the return on capital tends to diminish as the firm gets larger a. AFC will increase as output increases marginal productivity declines and marginal costs increase as output increases d C.

Answer 1

Answer is (d) no/yes

Interlocking directorates happens in case when a same person serves as an official in two different companies. But this is not always illegal.

This is purely illegal only when it is between two competitor companies. It is prohibited by antitrust laws then.

Price fixing happens when prices are fixed. It can be fixed as lower or higher. This activity is illegal. It is termed illegal by antitrust laws of the government.

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