The merger of two pizza restaurant chains would be an example of
A) a horizontal merger.
B) a vertical merger.
C) a conglomerate merger.
D) an independent merger.
A
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Angelina Jolie's economic rent from starring in a movie is equal to the difference between:
A. her final salary and what she could earn by starring in a different movie. B. her initial salary offer and her final salary, including royalties. C. her final salary and the average salary for leading actresses. D. her final salary and the least she would be willing to accept to star in the movie.
Relative to free trade, when a tariff is imposed in a market for an imported good,
A) the consumer surplus in that market increases. B) the producer surplus in that market decreases. C) the total surplus in that market decreases. D) tariff revenue decreases. E) deadweight loss decreases.
The idea that it takes 90 percent of your time to clean up the last 10 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward. B) the marginal cost of cleaning up slopes upward. C) the marginal benefit of cleaning up is constant. D) the marginal benefit of cleaning up slopes upward.
Miguel receives a pay raise at his part-time job from $7.50 to $9 per hour. He used to work 10 hours per week, but now he decides to work 12 hours per week. For this price range, his labor supply curve is
a. vertical. b. horizontal. c. upward sloping. d. backward sloping.