ECON 2001.01 Study Guide - Final Guide: Clayton Antitrust Act, Sherman Antitrust Act, Monopolistic Competition

• School: Ohio State University
• Department: Economics
• Course: ECON 2001.01
• Professor: All

Document Summary

Fourth homework assignment due march 22, 2016. Directions: please match the definition in questions 1-10 to the appropriate term from the list below. ____c_____: this is equal to average revenue at all quantities for a competitive firm. ____f_____: costs such as labor and materials that change with the quantity produced. ____l_____: a u. s. public law enacted to prevent "contracts, combinations, and conspiracies" in restraint of trade. ____k_____: a type of market in which strategic interaction is key to prices and profits. ____i_____: part of the justice dept. that opposes monopolies and contests mergers. ____a_____: costs such as land and equipment that do not change with quantity produced ____e_____, term for a reduction in average total cost as quantity increases. ____d_____: a type of market featuring free entry and exit and differentiated products. ____g_____: antitrust division, criminal division, the clayton act (1914, economies of scale, fixed costs, marginal revenue. Directions: please answer the questions in the space provided.