According to the Department of Justice merger guidelines, a proposed merger between two firms may be challenged if the post-merger Herfindahl-Hirschman Index
A) lies between 1,000 and 1,800 and the merger raises the Index by more than 100 points.
B) lies above 1,800 and the merger raises the Index by less than 50 points.
C) lies between 1,000 and 1,800 and the merger raises the Index by 50 points.
D) lies below 1,000 and the merger raises the Index by 100 points.
A
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In a world of perfect certainty, sharecropping would be less efficient than a farm owner working his own farm because
(a) sharecroppers receive only half of their marginal product. (b) paying a worker a wage gives him or her an incentive to shirk. (c) sharecroppers are exploited by landlords. (d) renting farmland concentrates risk on the renters. (e) all of the above.
One of the most responsive components of investment to changes in interest rates are
a. equipment. b. inventories. c. automobile purchases. d. residential housing. e. none of the above.
If government intervention in the market creates market inefficiencies then
A) there is government failure. B) market failure. C) network externalities. D) the economy must be democratic.
The smallest size plant size at which the long-run average cost curve is at its minimum is called the
A. minimum efficient scale. B. shut down point. C. envelope. D. profit-maximizing scale of production.