The primary reason conglomerate mergers are the most difficult to attack under the antitrust laws is that
a. these mergers always involve a domestic firm and a foreign firm
b. these mergers always involve the largest corporations in the United States
c. there is no statute the government can use to attack them in court
d. these mergers do not increase concentration in any market
e. these mergers are always beneficial
D
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What are explicit costs? What are implicit costs?
What will be an ideal response?
If a perfectly competitive firm finds that price is less than its ATC, then the firm
A) will raise its price to increase its economic profit. B) will lower its price to increase its economic profit. C) is making an economic profit. D) is incurring an economic loss. E) is making zero economic profit.
You can buy a season ticket to the Metropolitan Opera for $800. A season ticket plan to see the New York Knicks is $1600. Which of the following is a CORRECT statement?
A) The money price of opera tickets is 1/2 of a Knicks ticket per opera ticket. B) The opportunity cost of a Knicks ticket is 2 opera tickets per Knicks ticket. C) The relative price of an opera ticket is $800. D) the money price of a Knicks ticket is 2 opera tickets per Knicks ticket.
Refer to Figure 4-6. What area represents consumer surplus at P2?
A) B + C B) A C) A + B D) A + B + D + E