The merger of two firms selling close substitutes may lead to higher prices.
Answer the following statement true (T) or false (F)
True
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What three pieces of information do firms need to know to make production decisions?
What will be an ideal response?
If incomes were equally distributed in the United States, each fifth of the population would receive ____ percent of the income
a. 5 b. 10 c. 15 d. 20
Which of the following is an example of detrimental externality?
A. A trailer’s entry onto an overcrowded road that delays the movement of other vehicles. B. Fall in demand for gasoline in the United States softens the price of gasoline in the global market. C. Government investment in energy generation from nonconventional sources. D. Society devotes huge quantity of its scarce resources for vital innovative activity.
The price that sellers receive after the tax is imposed is
A. $6 B. $10 C. $16 D. $24