A horizontal merger
A) results in a trust (for example, the Standard Oil Company).
B) is a merger between firms in the same industry.
C) is a merger between firms at different stages of production of a good.
D) was illegal in the United States until the Federal Trade Commission Act was passed by Congress in 1914.
B
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An incumbent's threat to retaliate after a potential competitor enters the market will be taken seriously by potential competitors if
A) the incumbent can still earn a profit after carrying out the threat. B) the incumbent earns greater profit carrying out the threat than by accommodating entry. C) the potential entrant cannot earn a profit if the threat is carried out. D) the potential entrant's profit exceeds the incumbent's if the threat is carried out.
Rent controls are designed to protect consumers from high rents
a. True b. False Indicate whether the statement is true or false
A comprehensive income tax with few loopholes is efficient because labor
a. supply is very little affected by taxation. b. demand is very little affected by taxation. c. supply is highly responsive to taxation. d. demand is highly responsive to taxation.
The American Recovery and Reinvestment Act, a $787 billion package of tax benefits and spending programs aimed at reducing aggregate demand in the U.S economy
Indicate whether the statement is true or false