Who of the Following Was Successfully Appointed to the Supreme

question 27

Multiple Choice

Who of the following was successfully appointed to the Supreme Court?

• A) Priscilla Owen
• B) Janice Rogers Brown
• C) Samuel Alito
• D) Harriet Miers
• E) Clarence Haynsworth

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Definitions:

Lerner Index

An economic measure of a firm's market power, calculated as the difference between price and marginal cost relative to price.

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for competition primarily through product differentiation.

Cournot Equilibrium

A situation in an oligopoly in which each company chooses its production level assuming the output of its competitors, resulting in a stable market output.

Collusion

An agreement between firms to limit competition, set prices, or divide markets, which usually distorts the outcomes of a free market.