Under the Clayton Act, horizontal mergers by stock acquisition were:
a. not considered.
b. illegal if they could be show to lessen competition.
c. illegal under any circumstances.
d. legal if they could be shown to lessen competition.
b
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Suppose a cancer patient decides to forsake weekly chemotherapy treatments in order to spend more meaningful, loving time with her friends and family. In cases where patients refuse treatment,
A) there are indeed substitute for chemotherapy, such as time with family. B) the patient is behaving irrationally. C) the patient doesn't know what is in her long-run best interest. D) the patient fails to see that chemotherapy is a better substitute than time with the family.
Organizational structure can be a strategic asset if it
A) adds value. B) adds value and can be duplicated. C) adds value and cannot be duplicated. D) can be franchised.
______ creates inefficiency in a labor market by preventing firms from hiring employees whose marginal revenue product is above the market wage
a. Efficiency wage b. Labor union c. Labor shortage d. Discrimination
Suppose that when the price of a good falls from $12 to $9, the quantity demanded of that good rises from 310 units to 350 units. What is the approximate price elasticity of demand between these two prices?
a. 0.42 b. 2.36 c. 0.68 d. 3.80 e. 1.12