The merger of two community hospitals located in the same geographic market is called
a. vertical integration.
b. horizontal integration.
c. a leveraged buyout.
d. a conglomerate merger.
e. a real shame since one of the hospitals will likely close.
B
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Refer to Figure 3-4. At a price of $25, how many units will be supplied?
A) 400 B) 500 C) 600 D) 800
Using dollar values to calculate GDP is advantageous because
a. people can most easily understand dollar amounts b. it employs a common unit of measurement for very different things c. less valuable goods count the same as more valuable goods d. other methods of calculating production are not as intuitively clear e. money is a universal yardstick for measurement
For a perfectly competitive firm
A. marginal revenue will graph as an upwardly sloping line. B. the demand curve will lie above the marginal revenue curve. C. the marginal revenue curve will lie above the demand curve. D. the demand and marginal revenue curves are identical.
The Cost-Benefit Principle tells us that a firm should continue to expand production as long as:
A. price of the good is greater than its marginal cost. B. it can sell another unit of the good. C. the firm's profit is positive. D. the supply curve is upward sloping.