Conglomerate mergers involve more than two firms
a. True
b. False
B
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What is consumer surplus? How is it measured?
What will be an ideal response?
An open-market sale of Treasury bills by the Fed not only reduces the money supply but also
A. Lowers T-bill prices and raises interest rates. B. Drives up T-bill prices and pushes down interest rates. C. Lowers T-bill prices and pushes down interest rates D. None of these.
Which of the following is LEAST likely to be an outcome of a cartel as compared to the situation before the cartel was formed?
A) Cartel members charge higher prices. B) Cartel members reduce production. C) Cartel members make fewer profits. D) Cartel members do not compete with each other in pricing decisions.
Most firms are not monopolies in the real world because
a. firms usually face downward-sloping demand curves b. supply curves slope upward c. price is usually set equal to marginal cost by firms d. monopolies are not efficient e. there are substitutes for most goods