(Consider This) Suppose That Salsa Manufacturers Sell 2 Million Bottles

question 47

Multiple Choice

(Consider This) Suppose that salsa manufacturers sell 2 million bottles at $3.50 in one year and 3 million bottles at $3 in the next year. Based on this information, we can conclude that the

• A) law of supply has been violated.
• B) law of demand has been violated.
• C) demand for salsa has increased.
• D) supply of salsa has increased.

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Definitions:

Sherman Act

A foundational antitrust law in the United States that outlaws monopolistic practices and promotes competition.

Felony

A serious criminal offense that is punishable by death or imprisonment for more than one year.

Imprisonment

The state of being confined in prison as a punishment for crimes committed.

Monopoly Power

The ability of a single company or entity to control or dominate an industry or sector, reducing competition.