Home / Questions / According to the theory of creative destruction, the greatest threat to a monopolist
According to the theory of creative destruction, the greatest threat to a monopolist
producer of electric typewriters is likely to be
a. government regulation
b. international competition
c. the entry of new electric typewriter producers
d. growth in the computer industry
e. stockholders demanding increased efficiency
133. Economists who favor bigness in firms point to which of the following to support
their argument?
a. economies of scale
b. perfect competition
c. need for antitrust
d. advantages of marginal cost pricing
e. constant returns to scale
134. A patent gives an innovating firm how many years of legal protection from competition?
a. 1 year
b. 5 years
c. 10 years
d. 20 years
e. 23 years
135. The government sometimes grants a firm the exclusive right to market a good or process
for a fixed period of time. This is called
a. laissez-faire
b. a patent
c. contestable markets
d. economies of scale
e. monopolistic competition
136. Laissez-faire advocates believe that the government should
a. nationalize certain industries
b. not provide tax incentives to firms for research
c. foster an environment that is favorable to research
d. actively use price controls when excess profits are earned
e. outlaw monopolies which use research to further their power
137. A law that encourages market competition by prohibiting firms from gaining or
exercising excessive market power is
a. a patent
b. in conflict with the Constitution
c. supported by laissez-faire advocates
d. impossible to enforce
e. an antitrust law
138. The first piece of antitrust legislation in the United States to deal with price
discrimination was the
a. Clayton Act
b. FTC Act
c. Cellar-Kefauver Act
d. Robinson-Patman Act
e. Sherman Antitrust Act
139. The antitrust legislation that was designed to help small stores survive competition with
large retail chains was the
a. FTC Act
b. Sherman Antitrust Act
c. Cellar-Kefauver Act
d. Robinson-Patman Act
e. Clayton Act
140. The antitrust legislation that made it illegal for a firm to buy a competitor’s voting stock
was the
a. Sherman Antitrust Act
b. Cellar-Kefauver Act
c. FTC Act
d. Robinson-Patman Act
e. Clayton Act
Dec 12 2019 View more View Less
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