A merger between firms that are in the same industry is called a
A) conglomerate merger.
B) horizontal merger.
C) vertical merger.
D) none of the above.
Answer: B
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Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Dorian Gray hires "Wild Oscar," a professional portrait artist, to paint his picture
A) J and M B) K and G C) K and M D) J and G
A merger between the Ford Motor Company and General Motors would be an example of a
A) conglomerate merger. B) vertical merger. C) horizontal merger. D) trust.
Suppose Chip's Chips produces bags of potato chips. An example of a variable cost for this firm would be:
A. the potato peeling machine. B. the factory building. C. the deep fryer. D. None of these is an example of a variable cost.
When a firm makes zero economic profit, it means that: a. the firm is covering implicit costs alone
b. the firm is covering the total opportunity costs of its resources. c. the firm is covering explicit costs alone. d. the firm is running at an accounting loss.