Cooperation among oligopolies runs counter to the public interest because it leads to underproduction and high prices. in an effort to bring resource allocation closer to the social optimum, public officials attempt to force oligopolies to compete instead of cooperating.

consider the following scenario:

suppose that the leaders of several oil corporations hold a secret meeting in the cayman islands where they agree to restrict fuel output in order to boost prices. as a result of the higher fuel prices, an airline company loses billions of dollars.

this airline company could recover three times the damages it has sustained by suing the appropriate oil corporations under which of the following laws?

a. the celler kefauver act of 1950
b. the sherman antitrust act of 1890
c. the robinsonpatman act of 1936
d. the clayton act of 1914

Option D is correct

Explanation:

It's a violation of the Clayton act of 1914 which prohibits price fixing which was a the aim of the oil corporation leaders in the meeting they had at Cayman islands.

The Clayton antitrust act is a price of legislation passed by the u.s congress in 1914 which explains and prohibits unethical business such as price fixing and monopolistic acts.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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