Neoclassical economics sanctioned the formation of monopolies true false Henry Ford perfected mass production technology in...

Neoclassical economics sanctioned the formation of monopolies

true

false

Henry Ford perfected mass production technology in the automobile industry but also created the conditions for overproduction in the automobile industry.

true

false

The 14th amendment and its due process clause effectively limited the ability of the government to intervene to control a monopoly.

true

false

Solutions

Expert Solution

• 1st Question: Answer - False

Explanation: Neoclassical economics is based on market system in supply and demand are the decisive factors. There are no restrictions on the entry of new seller. Consumers can buy from any of their preferred sellers as lot of sellers compete in this system. A fair competition is possible in Neoclassical economics. Therefore, the formation of monopolies has very little chances. Thus, Neoclassical economics didn't sanctioned the formation of monopolies. Hence, given statement is false.

• 2nd Question: Answer - True

Explanation:. Henry Ford uses mass production technology in the automobile industry to a great extent and produces large numbers of automobiles in short period of time. However, he made several conditions in the automobile industry related to overproduction of automobiles. Therefore, given statement is true.

•3rd Question: Answer - True

Explaining: It is absolutely correct that the 14th amendment and it's due process clause have limited to a great extent the government's effort to control a monopoly in economic system. It makes hindrances in the ability of the government with respect to this purpose. Therefore, the given statement is true.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Answer all questions as true or false 1. Henry Ford announced that he would double wages...

Answer all questions as true or false 1. Henry Ford announced that he would double wages and reduce working hours at his Detroit auto plant to increase the stability and efficiency of the Ford factory workers. 2. Managers at Google (Alphabet) must be able to document the outcomes of key results with objective evidence. 3. The mission of the Gates foundation is to eliminate malaria by 2040. 4. The Key results that the Gates Foundation used to measure what matters...

1) Henry Ford was a businessman, why and how he manages to develop mass production/assembly line?

1. True or false. The mass of a closed system cannot change. 2. True or false....

1. True or false. The mass of a closed system cannot change. 2. True or false. Fahrenheit scale cannot be used in thermodynamics relations. 3. True or false. An extensive property can be a function of time and location. 4. True or false. If a system is at steady state, then the density is uniform throughout the system. 5. True or false. All modes of heat transfer between two bodies must occur when the two bodies are in contact. 6....

Answer true or false, with a brief explanation. 1. Monopolies are always bad for consumers. 2....

Answer true or false, with a brief explanation. 1. Monopolies are always bad for consumers. 2. The supply curve of a monopolist is upward sloping. 3. Monopolies charge the highest price a consumer is willing to pay, thus capturing all consumer surplus.

True or false? One reason that “monopolistic competition” under the neoclassical paradigm might be a more...

True or false? One reason that “monopolistic competition” under the neoclassical paradigm might be a more representative model of the real world than that of “perfect competition” is that the assumption of differentiated products allows for historically-created brand loyalty.

(a) Microorganisms play a role in the formation of hardness in groundwater. True or false? Explain....

(a) Microorganisms play a role in the formation of hardness in groundwater. True or false? Explain. (b) In the United States, chlorine is preferred as a disinfectant over ozone because it has a residual. Why is the presence of a residual important? In recent years ozone has been replacing chlorine as the primary disinfectant in the United States. What are the advantages and disadvantages of this?

true or false? amoung the three major financial states, tax formation of the firm can be...

true or false? amoung the three major financial states, tax formation of the firm can be found in the balance sheet?

True or false? 1. If the expected profit is lower with the new technology, the farmer...

True or false? 1. If the expected profit is lower with the new technology, the farmer will never have an incentive to adopt the new technology. 2. The end of the bracero program devastated the processing tomato industry, where many bracero workers were employed. 3. The U.S. government ended the Bracero Program in 1964 partly because unions argued that Bracero workers competed with U.S.-born workers. 4. Economic research shows that farm workers in the United States are becoming less willing...

True or false 1.In the primary immune response, there is no antibody production in the the...

True or false 1.In the primary immune response, there is no antibody production in the the lag phase, only B cell proliferate and differentiate. 2. The hydrostatic pressure gradient drives water_________capillaries, and the colloid osmotic pressure drives water_______capillaries. out of; out of out of; into into; out of into; into 3. When B cells are activated, they differentiate into: Plasma cells Memory cells more than one answers are correct none of the answers are correct 4.HIV specifically infects the cytotoxic...

TRUE OR FALSE 1. In the primary immune response, there is no antibody production in the...

TRUE OR FALSE 1. In the primary immune response, there is no antibody production in the the lag phase, only B cell proliferate and differentiate. 2.Rh factor is an antibody found on the red blood cells of Rh positive people. 3.In the process of hemostasis, formation of platelet plugs and fibrin clots occur simultaneously. 4..Neutrophils are a critical component of the response to a parasitic infection. 5.Helper T cells are critical for proper activation of both CD8 T cells and...

Subjects