The merger of two pizza restaurant chains would be an example of
A) a horizontal merger.
B) a vertical merger.
C) a conglomerate merger.
D) an independent merger.
Answer: A
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A monopolistically competitive firm maximizes profit by producing where marginal revenue equals marginal cost.
Answer the following statement true (T) or false (F)
Define logrolling. Explain why logrolling often results in legislation that benefits the economic interests of a few, while harming the interests of a larger group of people
What will be an ideal response?
Refer to Figure 20-1. Based on the graph of the labor market above, if a minimum wage is set at $5 per hour, which of the following will occur?
A) The level of unemployment will rise, but the percentage of the labor force unemployed will not change. B) The unemployment rate will fall. C) The unemployment rate will rise. D) None of the above will occur.
In the model of monopolistic competition, compared to a firm with a higher marginal cost, a firm with a lower marginal cost will set a ________ price, produce ________ output, and earn ________ profits
A) lower; more; more B) higher; more; more C) lower; less; less D) higher; less; less E) higher; less; more