1 In the apples industry, there are high barriers to entry. In the banan industry, there are low barriers to entry. All else equal, cnllusion ie more likely to be successful in which industry?

 Which case established the precedent that price fising agreements were per ae illegal?

"The Munn v, Illinois decision opened all private property to government regulation."

In the avocado industry, consumers have many close substitutes, In the broccoll industry, consumers have few close subatitutes. All else equal, collusion is more likely to be successful in which industry?

Which of the following established that only Congress had the power to directly regulate interstate commerce?

Consider an oligopoly of two retailers: when Warget raises its price, Talmart raises its price because their executives have an agreement to do so. This is __colluaion

Suppose that you are the CEO of a firm in Ohio. Two agents from the Ohio Bureau of Criminal Investigation confront you and allege that your firm has been engaged in an illegal, multi-million dollar price-fixing conspiracy. Of the following, which of the following is the most prudent course of action?

Under current law, is it illegal for trade associations to enforce pricing among their members?

A chief question in the Munn case was how the Constitution's __ applied to regulation.

Ben and Jerry are playing a one-time sequential game. The game tree below illustrates. Payoffs reported as Ben’s payoff, Jerry’s payoff. What is the equilibrium of this game

A market has only two firms, can we infer from this an inefficient outcome 

A hospital always receives identical bids to buy antibiotics from five drug companies. Is this proof of collusion?

Consider a regulatory commission that enforces the Ramaey price on a natural monopoly. All else equal, as the average total cost curve shifts upward upward with X-inefficiency, the regulator must __ price

"Currently, the burden of proof on the government in price-fixing conspiracy cases is quite low."

Typically, requlations create  "losers," each of whom individually experience a relatively amount of harm therefrom.

In which of the following cases did the court rule that no formal agreement was necessary to constitute an unlawful price-fixing conspiracy?

"If the government passed a law requiring more manufacturing in the United States, then total surplus would rise in the United States."

Los Pollos Hermanos and AlA Car Wash are engaged in a one-time, simultaneous game with the following payoff matrix. Payoffs are listed as Los Pollos Hermanos, AlA Car Wash.Which of the following is a Nash equilibrium? List all that apply in the corresponding blank on your answer sheet.

"Modern economists accept the 'ruinous competition' argument as sound economics."

Which of the following is a characteristic of the Tit-for-Tat Strategy AND the Grim Trigger Strategy?

"Under current law, conscious parallelism is clearly illegal in the United States."