The sum of the squares of the market share for the fifty largest firms in a market is the basis of the government's current merger guidelines
Indicate whether the statement is true or false
TRUE
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About six months ago, Pat lost the job as vice president of a local bank. Since losing the job, Pat still has the Sunday newspaper delivered every week. For Pat, the Sunday newspaper is
A) income inelastic. B) price inelastic. C) an inferior good. D) a normal good because Pat still buys the paper even with a big loss of income.
Suppose a monopoly's inverse demand curve is P = 100 -Q, it produces a product with a constant marginal cost of 20, and it has no fixed costs
Compared to the consumer surplus if the market were perfectly competitive, consumer surplus is how much less when the monopolist practices perfect price discrimination? A) 3200 B) 1600 C) 800 D) 0
A decrease in the budget deficit
a. makes investment spending fall. b. makes investment spending rise. c. does not affect investment spending. d. may increase, decrease, or not affect investment spending if private saving doesn't change.
Charging different prices to different individuals or groups for the same product is called:
A. price discrimination. B. price differentiation. C. quantity discrimination. D. market segmentation.