Baxter International, a manufacturer of hospital supplies, acquired American Hospital Supply, a distributor of hospital supplies. This is an example of
A) a two-dimensional merger. B) a conglomerate merger.
C) a vertical merger. D) a horizontal merger.
C
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Assuming instead that the market depicted in Figure 8.1 is perfectly competitive, the equilibrium price and output would be:
A) P2 and Q2. B) P1 and Q1. C) P4 and Q1. D) P3 and Q1.
Suppose an economy originally in long-run equilibrium experiences a decrease in aggregate demand. According to the classical model
A) real Gross Domestic Product (GDP) will not change but the price level will fall. B) real Gross Domestic Product (GDP) will fall, and then the price level will fall also. C) the price level will not change but real Gross Domestic Product (GDP) will fall. D) real Gross Domestic Product (GDP) will fall, wages will fall, but the prices of goods and services will stay the same.
The consumer equilibrium condition for two goods is achieved by equating the:
a. marginal utility of one to the price of the other for the last dollar spent on each good. b. prices of both goods for the last dollar spent on each good. c. marginal utilities of both goods for the last dollar spent on each good. d. ratios of marginal utility to the price of both goods for the last dollar spent on each good.
Acres of LandTanks of FertilizerTruckloads of Potatoes2002820170202105203135204152205141
Refer to Table 2.4. What can be observed about the given resources?
A. Land is variable but fertilizer is fixed. B. Land and fertilizer are both fixed. C. Land and fertilizer are both variable. D. Land is fixed but fertilizer is variable.