The purpose of antitrust (also known as competition) laws is to ?

A. Increase competition in an industry by preventing mergers and breaking up large firms.
B. regulate the prices charged by a monopoly
C. increase merger activity to help generate synergies that reduce costs and raise efficiency.
D. create public ownership of natural monopolies
E. all of these answers

A welfare loss occurs in monopoly where ?

A. The price is greater than the marginal cost
B. The price is greater than the marginal benefit
C. The price is greater than the average revenue
D. The price is greater than the marginal revenue

According to Schumpeter ?

A. Monopolies are inefficient
B. Monopoly profits ac as an incentive for innovation
C. Monopolies are alocatively efficient
D. Monopolies are productively efficient

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