Under a _____, the assets of two firms that operate in the same market are put under a single ownership
a. vertical merger
b. horizontal merger
c. vertical acquisition
d. horizontal acquisition
B
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Two isoquants, which represent different output levels but are derived from the same production function, cannot cross because
A) isoquants represent different utility levels B) this would violate a technical efficiency condition C) isoquants are downward sloping D) additional inputs will not be used by profit maximizing firms if those inputs decrease output E) Both B and D are true.
The figure supports all of the following statements regarding the marginal factor cost curve for a monopsonist EXCEPT
A) the monopsonist firm looks at a marginal cost curve, MFC, which slopes upward and is above its labor supply curve. B) the marginal benefit of hiring additional workers is given by the firm's MRP curve. C) the intersection of MFC with MRP, at point E, determines the number of workers hired. D) a monopsonist cannot find the profit-maximizing quantity of labor demanded at E.
Externalities are benefits or damages conferred upon people who are directly involved in an exchange of a good or service
a. True b. False Indicate whether the statement is true or false
Hector puts $150 into an account when the interest rate is 4 percent. Later he checks his balance and finds he has about $168.73 . How long did Hector wait to check his balance?
a. 3 years b. 3.5 years c. 4 years d. 4.5 years