A good example of _________ is the merger between a steel firm and a cookware firm
a. a horizontal merger
b. a vertical merger
c. a conglomerate merger
d. either a horizontal or conglomerate merger, depending on whether the oligopoly is balanced or unbalanced
e. either a horizontal or conglomerate merger, depending on the market shares of the two firms
B
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In the figure above, diminishing marginal utility is shown by
A) total utility curve A. B) total utility curve B. C) total utility curve C. D) all three curves.
Which of the following individuals would be most negatively affected by anticipated inflation?
A) a student who borrows $10,000 at a nominal interest rate of 5% to finance educational expenses B) a full-time employee at a pizza parlor who makes more than the minimum wage C) a retired railroad engineer who receives a fixed income payment every month D) a union contractor whose pay is adjusted based on changes in the CPI
Figure 18-2
illustrates supply and demand for U.S. dollars and British pounds in the foreign exchange market. Which of the following would cause the demand for foreign exchange (pounds) to shift from D1 to D2?
a.
an increase in the real interest rate in Britain relative to the United States
b.
higher inflation in Britain than in the United States
c.
higher income growth in Britain than in the United States
d.
an increase in the number of British citizens vacationing in the United States
An industry with a Herfindahl-Hirschman index of 1,000 would have ____ firm(s).
A. 1 B. 10 C. 100 D. 1,000