Horizontal merger occurs when
A) two firms merge where one had sold its output to the other as an input.
B) the merger moves the combined firm onto the horizontal portion of its long-run average cost curve.
C) two firms merge where each is about the same size.
D) two firms producing a similar product merge.
D
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If the Japanese government enters the foreign exchange market and purchases yen to maintain a specific exchange rate with the dollar, the dollar will ________ and the yen will ________
A) depreciate; depreciate B) depreciate; appreciate C) appreciate; depreciate D) appreciate; appreciate
The __________ lag refers to the problem of getting an accurate fix on what is happening in the economy
A) recognition B) realization C) impact D) None of the above.
A maximum legal price that may be charged for a particular good or service is known as a
A) price floor. B) price ceiling. C) black market. D) price support.
If the quantity supplied is perfectly inelastic then quantity does not respond to price changes.
Answer the following statement true (T) or false (F)