A merger between two firms with unrelated products is a
A. vertical merger.
B. conglomerate merger.
C. horizontal merger.
D. monopoly merger.
Answer: B
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Since a monopoly faces a downward-sloping demand curve,
A. then, as Adam Smith wrote, “the price of monopoly is upon every occasion the highest which can be got.” B. price always exceeds average revenue. C. marginal revenue increases as output increases. D. the monopolist is a price maker.
Arguments against the balanced budget amendment include all of the following EXCEPT
A) a balanced budget amendment would turn control of the federal budget over to the Judicial Branch. B) a balanced budget amendment would induce Congress to issue more mandates to states to increase spending. C) a balanced budget amendment would reduce the taxation burden on future generations. D) a balanced budget amendment would limit Congress from using fiscal policy during a recession.
Because there is no formal agreement among the participating firms, firms that engage in tacit collusion are exempt from prosecution under the anti-trust laws
Indicate whether the statement is true or false
Fluctuations in the relative demand for checking deposits versus money-market mutual funds causes instability in the overall demand for
A) M1 but not M2. B) M2 but not M1. C) M2 and M1. D) neither M1 nor M2.