7. The goal of antitrust legislation IS a. maximize profit potential. b. maximiz

Question

7. The goal of antitrust legislation IS a. maximize profit potential. b. maximize deadweight loss. c. promote and protect competition. d. promote and protect market power. U Use the graph below to answer questions 8 through 10. MC ATC $18 $15 +:.. $14 s9 640 800 900 Output 8. If this firm follows the profit-maximizing rule, it will produce units of output efficiency requires that the firm produceunits of out a. 800; 800 b 640; 900 c. 800; 640 d. 640; 800 9. If this firm follows the profit-maximizing rule, it will earn economic profit equal to: a. $11,520. b. $12,600. c. $1,920. d. $O. 10. Deadweight loss in this market is approximately equal to: a. $$1,440 b. $720 c. $2,340 d. $1,170.

Explanation / Answer

7. c. promote and protect competition.

Anti-trust legislation is designed to ensure competition in the market. These legislations ensure that the party has extra market power.

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