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11.A firm is likely to be a natural monopoly Answer when

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11.A firm is likely to be a natural monopoly:
when the demand for its product or service is inelastic.
if it is producing an inferior good.
if economies of scale are experienced over the full range of output.
because government grants it an exclusive franchise.

12.Suppose the courts declare that XYZ Corporation violated the antitrust laws and as a result the ABC Corporation lost $100 million of profits. XYZ Corporation will have to pay ABC Corporation a monetary award of:
$100 million.
$33.3 million.
$150 million.
$300 million

13.Which of the following is directly illegal under the Sherman Act?
price discrimination
tying contracts
price fixing
interlocking directorates

14.Tying agreements:
establish common boards of directors for previously competing firms.
obligate a purchaser of product X to also buy product Y from the same seller.
allow manufacturers to specify the retail prices of their products.
prohibit firms from selling their products outside of specified geographic areas.

15.The rule of reason indicated that:
if less than four firms account for three-fourths of an industry's sales, the industry is in violation of the Sherman Act.
social regulation should not be enforced unreasonably so that costs exceed benefits.
the mere possession of monopoly power is a violation of the antitrust laws.
only contracts and combinations that unreasonably restrain trade violate the antitrust laws.
Submitted: 5 years ago.
Category: Homework
Expert:  Linda_us replied 5 years ago.

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