Assume that the price of video game players falls

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Unformatted text preview: * Q) - TC b) Q * (P – ATC) d) All of the Above 31. A competitive market promotes technical efficiency in the long run by pushing prices to the minimum of: a) Short- run AVC c) Long- run ATC b) Short- run MC d) Long- run TC 32. In a perfectly competitive market in the long run: a) Economic profits induce firms to enter until profits are normal b) Economic losses induce firms to exist until profits are normal c) Economic profit is zero at equilibrium d) All of the above 33. The primary purpose of anti- trust in the United States is to: a) Issue patents c) Limit foreign competition b) Encourage competition d) Regulate monopolies 34. Which of the following was the first to prohibit conspiracies in restraint of trade? a) The Sherman Act b) The Clayton Act c) The Federal Trade Commission Act d) The Gramm- Rudman Act Target Wal- Mart Advertise Don’t Advertise Advertise T: 23,000 T: 56,800 W: 34,000 W: 55,000 Don’t’ Advertise T: 12,000 T: 45,700 W: 88,900 W: 3,000 35. Based on the figure above, what is the best outcome for both Target and Wal- Mart? a) Target should advertise, Wal- Mart should not b...
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This note was uploaded on 07/08/2013 for the course ACG 2011 taught by Professor Accounting during the Winter '05 term at BC.

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