Factor Prices, Returns from Alternative Activities, Technology, Number of Firms

question 167

Multiple Choice

Factor prices, returns from alternative activities, technology, number of firms, producer expectations, and natural events are often termed:

• A) demand determinants.
• B) demand quantities.
• C) supply prices.
• D) supply shifters.

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Definitions:

19th Century

Refers to the years from 1801 to 1900, a period marked by significant industrial, social, and political changes worldwide.

Earliest Antitrust Act

Legislation aimed at promoting competition and preventing monopolies, often referring to the Sherman Antitrust Act of 1890 in the United States.

Sherman Act

A landmark federal statute in the United States antitrust law passed in 1890 which prohibits monopolistic practices and promotes competition.

Horizontal Merger

A corporate strategy where two or more companies that produce similar products or services merge.