Monopolies Study guides, Class notes & Summaries

5 Characteristics of a Monopoly CORRECT ANSWER 1) Single Seller 2) Unique good with no close substitute 3) "Price Maker" 4) High Barriers to Entry 5) Some "Nonprice" Competition Single Seller (1) CORRECT ANSWER -one firm controls the vast majority of a market -firm=industry "Price Maker" (3) CORRECT ANSWER -firm can manipulate price by changing the quantity produced (ie. shifting supply to the left) High Barriers to Entry (4) CORRECT ANSWER -new firms CANNOT enter market -no...

Federal Trade Commission Act CORRECT ANSWER 1914 - , established the FTC that would investigate and prevent unfair business practices - encourage competition Sherman Antitrust Act CORRECT ANSWER 1890, A law that made it illegal to create monopolies or trusts that restrained free trade Clayton Antitrust Act CORRECT ANSWER This act was enacted in 1914, and it reinforces and broadens the provisions of the Sherman Act. Among its prohibitions are certain exclusive contracts, predatory price cut...

NLRB v. Mackay Radio & Telegraph Co. CORRECT ANSWER This doctrine clearly establishes the legality of using permanent strike replacements in economic strikes NLRB v. Washington Aluminum Co. CORRECT ANSWER non-unionized workers walk off job and protest due to poor conditions = fired = firing is ruled illegal by NLRB due to activity of mutual aid/ protection Anti-Injunction Act CORRECT ANSWER see Norris- LaGuardia Act of 1932. 1) Outlawed "yellow dog contracts". 2) makes it difficult for emp...

WGU C214 Financial Management Object Assessment Exam| Latest 2023/ 2024| Questions and Verified Answers| Grade A+ QUESTION The value of money depends upon? Answer: The timing of receipts, certainty of receipt and riskiness of receipt. QUESTION What is the purpose of the SEC 10-K filing? Answer: Prevent monopolies QUESTION Which line item is not part of net working capital? Answer: Bonds QUESTION Increase in accounts payable, decrease in ac...

GVPT 282 Midterm Latest 2023 Asian Infrastructure Investment Bank (AIIB) The AIIB is a financial institution focused on multilateral development in the Asia-Pacific region. This bank, with its 17-founding member and other joiners, competes with the IFIs established under the Bretton Woods System, mainly the World Bank and IMF. As a result, it threatens U.S.'s power to advance its foreign policy through conditionality for loans. Instead, IFIs may not compete, and this competition allows developi...

American Law Reports correct answer: A publication that reports cases from all United States jurisdictions by subject matter Amicus Curiae correct answer: A Friend of the Court; Refers more specifically to a person asking for permission to intervene in a case where they are neither the plaintiff or defendant Ancillary probate correct answer: a probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually ancillary probate pro...

aPHR Study Kit Questions and Answers Sherman Anti-trust Act (1890) - Answer ️️ ---curbed concentrations of power that interfere with trade and reduce economic competition by regulating monopolies and trade; protects free trade --applied to unions in early days because they were seen as a monopolizing power --forbade any "restraint of commerce" across state lines, and courts ruled that union strikes and boycotts were included Clayton Act (1914) - Answer ️️ ---modified the Sherman...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

Which of the following best explains the consistent growth of the federal bureaucracy over the past hundred years? (A) Increases in federal income tax since 1925 (B) The inability of Congress to cut programs (C) The success of Democratic presidents in promoting their policies (D) Public demand for, and expectation of, social services (E) United States Supreme Court rulings requiring Congress to assist those living in poverty - Answer- Public demand for, and expectation of, social services ...

NJ property insurance law Exam with complete solutions In New Jersey, and insurer must provide at least______ advance notice for cancellation of property coverages for nonpayment of premium 10 days The employment of another producer by a producer is subject to all of the following requirements, except a. the employer shall examine the credentials of the kinds of business described in the contract. b. the employer shall be responsible for the insurance related conduct of the employee ...