9. The government tries to promote restrictive trade practices through antitrust laws like the Sherman Act.
True or False
10. Monopolistic competition implies that eventually there are way too many firms in the market, and thus there is:
a. unused capacity in each firm, and this is an inefficiency.
b. Each firm in the long run makes 0 economic profit.
c. Both a and b
d. Neither a nor b
11. A tax that is imposed on an economic activity, not so much to collect revenue but to discourage an economic activity, is called a Pigovian Tax.
True or False
12. The term Nationalization is used to describe circumstances where the government takes over ownership of a business.
True or False
