In general, horizontal mergers will
A) increase the number of firms in an industry.
B) decrease the number of firms in an industry.
C) increase competition in an industry.
D) reduce economic profits in an industry.
B
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According to this Application, lower oil prices should ________ aggregate ________
A) increase; demand B) not change; demand C) decrease; demand D) decrease; supply
If the economy is represented in the graph shown and is currently at point E3, then the economy must be in:
A. long-run equilibrium. B. a recession. C. an economic boom. D. an economic recovery.
Explain how the optimal quantity of air pollution is determined
What will be an ideal response?
Refer to the information provided in Figure 3.5 below to answer the question(s) that follow.
Figure 3.5Refer to Figure 3.5. If consumer income decreases, the demand for chili peppers shifts from D0 to D1. This implies that chili peppers are a(n)
A. inferior good. B. substitute good. C. complementary good. D. normal good.