If there are only a few producers of substitutes for Good X, a merger between producers of Good X and any one of them could significantly _____ for Good X
a. decrease the elasticity of demand.
b. increase the elasticity of supply.
c. decrease the elasticity of supply.
d. increase the elasticity of demand.
A
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Prohibiting the use of “dirty” fuels by industry is an example of
A. voluntarism. B. direct controls. C. taxes on emissions. D. the permit to pollute.
Jackie, a Canadian citizen, works only in the United States. The value of the output she produces is
a. included in both U.S. GDP and U.S. GNP. b. included in U.S. GDP, but it is not included in U.S. GNP. c. included in U.S. GNP, but it is not included in U.S. GDP. d. included in neither U.S. GDP nor U.S. GNP.
Tariffs to limit imports to "protect U.S. jobs" will also
A) stimulate exports. B) limit exports. C) decrease import prices. D) reduce domestic production of import-threatened products.
When households choose to hold money as a store of value, rather than holding assets such as certificates of deposit, stocks, and bonds, ________ demand for money results.
A. liquidity B. precautionary C. transactions D. asset