Question

Antitrust laws have been implemented by governments to promote _____.(1 point)
Responses

monopolies
monopolies

price fixing
price fixing

bid rigging
bid rigging

competition
GPT-4o mini
Antitrust laws have been implemented by governments to promote **competition**.
hi
To bypass regulations imposed by the Sherman Antitrust Act and engage in monopolistic behavior, businesses would participate in which of the following activities?(1 point)
Responses

mergers
mergers

perfect competition
perfect competition

fair pricing
fair pricing

lawsuits
GPT-4o mini
To bypass regulations imposed by the Sherman Antitrust Act and engage in monopolistic behavior, businesses would participate in **mergers**.
hi
Question
Which of the following government agencies was established in 1914 to regulate and prevent unfair market practices?(1 point)
Responses

Sherman Antitrust Commission
Sherman Antitrust Commission

Antitrust Commission
Antitrust Commission

Clayton Antitrust Commission
Clayton Antitrust Commission

Federal Trade Commission
GPT-4o mini
The government agency established in 1914 to regulate and prevent unfair market practices is the **Federal Trade Commission**.
hi
Explain how government intervention in the form of anti-trust laws can benefit the economy.(1 point)
Responses

Anti-trust laws can create more competition. More competition means better prices, greater innovation, and more consumer choice.
Anti-trust laws can create more competition. More competition means better prices, greater innovation, and more consumer choice.

Anti-trust laws decrease competition. Less competition means better prices, greater innovation, and more consumer choice.
Anti-trust laws decrease competition. Less competition means better prices, greater innovation, and more consumer choice.

Anti-trust laws decrease competition. Less competition means worse prices, less innovation, and less consumer choice.
Anti-trust laws decrease competition. Less competition means worse prices, less innovation, and less consumer choice.

Anti-trust laws can create more competition. More competition means worse prices, less innovation, and less consumer choice.
GPT-4o mini
The correct response is: **Anti-trust laws can create more competition. More competition means better prices, greater innovation, and more consumer choice.**
hi
Which of the following is a negative externality that could arise from a person's right to use his or her property?(1 point)
Responses

losing the certificate of title
losing the certificate of title

increased neighborhood traffic from running a business out of one's home
increased neighborhood traffic from running a business out of one's home

renting space on one's property to make money
renting space on one's property to make money

not acquiring building permits before adding an in-law apartment to one's house
GPT-4o mini
A negative externality that could arise from a person's right to use his or her property is **increased neighborhood traffic from running a business out of one's home**.
hi
you got all 5 answers correct thank you.
GPT-4o mini
You're welcome! I'm glad I could help. If you have any more questions or need further assistance, feel free to ask!