Which of the following statements is true?
A. Most horizontal mergers are blocked by the government.
B. Most U.S. industries are monopolies.
C. The market structure of an industry frequently changes over time.
D. Most U.S. industries are perfectly competitive.
Answer: C
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Diversification is determined by adding value
Indicate whether the statement is true or false
Brand name products tend to have demand curves that are relatively more inelastic because
A) brand name products tend to have more substitutes. B) brand name products tend to have fewer substitutes. C) consumers are very sensitive to the prices of brand names. D) brand names are not valued.
Figure 17-13
In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how much tariff revenue will the United States government collect?
a.
$4,000
b.
$16,000
c.
$20,000
d.
$24,000
e.
$48,000
The sum of fixed cost and variable cost at any rate of output is
A. Total cost. B. Total variable cost. C. Average total cost. D. Average marginal cost.