According to the Justice Department and the Federal Trade Commission, a merger would likely be challenged if
A. the number of firms in the post-merger industry is very large.
B. the post-merger industry has an HHI above 500 and the HHI rises by more than 50.
C. the post-merger industry has an HHI above 1,500 and the HHI rises by more than 100.
D. the firms' markets are very large.
Answer: C
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A situation where limited resources make it impossible to fulfill all of our wants is known as
A) scarcity. B) opportunity cost. C) a trade-off. D) responding to incentives.
________ is the ease with which a financial security can be exchanged for money
A) The face value B) The rate of return C) Risk D) Liquidity
The risk of crowding out is greater the closer the economy is to full employment.
Answer the following statement true (T) or false (F)
If a homeowner sells a kitchen table and chairs that she no longer wants to use and does not report the income earned from the sale to the Internal Revenue Service, the value of GDP is
A. understated because this transaction took place in the underground economy. B. overstated because the sale of the furniture is counted twice in GDP calculations. C. unaffected by this transaction because the table and chairs were already counted in GDP as final goods when the homeowner bought them new. D. understated because this purchase was a nonmarket transaction.