Before government approves a merger, what must the companies prove the merger would do?
(A) Lower costs and consumer prices or lead to a better product.
(B) Be beneficial by creating an artificial monopoly.
(C) Be good for certain consumers but not others.
(D) Actually raise the number of competitors in the market.
Ans: (A) Lower costs and consumer prices or lead to a better product.
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The market where one currency is converted into another currency is called the ________ market
A) stock B) bond C) derivatives D) foreign exchange
If there were four firms in an industry each with a 25% market share, what would the Herfindahl-Hirschman Index equal?
a. 2500 b. 1250 c. 1,000 d. 625
The total percentage share of industry sales of the four leading firms in an industry is called _____________.
Fill in the blank(s) with the appropriate word(s).
You have the option of consuming one can of soda or two cookies or three oranges. You picked the can of soda. Therefore the opportunity cost of this can of soda is
A) the price of the can of soda. B) the difference in the prices of these three products. C) the price of the cookies as they are not usually consumed with soda. D) either the cookies or the oranges, whichever you like more.