Which statement below is FALSE? 1.The most concentrated markets include batterie
ID: 1192538 • Letter: W
Question
Which statement below is FALSE?
1.The most concentrated markets include batteries, light bulbs, and computer hard drives.
2.Monopolistically competitive firms may earn economic profits in the long run.
3.The Sherman Act was enacted in 1890.
4.When Congress passed the Clayton Act, it also established the Federal Trade Commission, which was charged with the task of preventing monopoly practices.
5.A tying arrangement is an agreement to sell one product only if the buyer agrees to buy another, different product.
Explanation / Answer
2.Monopolistically competitive firms may earn economic profits in the long run.
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