The price elasticity of demand for Rosie's Roses fresh flowers the week of Valentine's Day is 1.10 and is 1.60 other days of the year. If Rosie's Roses faces a constant marginal cost of $0.75 per rose, what is the profit-maximizing off-peak load price to charge on days not on the week of Valentine's Day? 1)$5.00 2)$1.25 3)$8.50 4)$2.00
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1)$5.00
2)$1.25
3)$8.50
4)$2.00
If Happy Campers has a market share of 70 percent and Campers R Us has a market share of 5 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm and Campers R Us ________ be considered a dominant firm.
1)would; would
2)would not; would not
3)would not; would
4)would; would not
If an illegal per se act has been proven to have occurred, there is no defense possible.
1)True
2)False
A manager of a firm located in the United States that sells some of its products abroad needs to comply only with United States antitrust law as the firm is only bound by the laws of the country in which it is located.
1)True
2)False
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