Recall the Application about the merger of Sirius Satellite Radio and XM Satellite Radio to answer the following question(s).Recall the Application. What were the tradeoffs that government regulators had to consider in determining whether to allow Sirius and XM to merge?
What will be an ideal response?
They had to weigh the benefits of the cost-savings due to economies of scale against the threat that a single monopolist would raise prices to consumers.
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In the above diagram, what happens if the real GDP is $3 trillion? $5 trillion? $7 trillion? What is the equilibrium level of real GDP? Why?
What will be an ideal response?
The above table shows the distribution of wealth and income in Miseria. Ninety-five percent of the wealth is owned by what percent of the population?
A) 20 percent B) 40 percent C) 60 percent D) 95 percent
Based on the table "Real and Nominal GDP," if year one is the base year, then the real GDP in year three, is ________
A) 7200 B) 8250 C) 1050 D) 7500 E) none of the above
Suppose a change takes place and the new equilibrium is at point A in the above figure. This change could have been caused by
A) an increase in the per-unit tax on CDs. B) a decrease in the income of consumers. C) a reduction in the wages paid to workers in the CD industry. D) a reduction in the price of CD players.