Recall the Application about the 1998 merger between Pennzoil and Quaker State to answer the following question(s). The merger resulted in a company with a market share of 38 percent: 29 percent from Pennzoil and 9 percent from Quaker State.Recall the Application. A recent study concluded that following the merger between Pennzoil and Quaker State, the market share of Pennzoil products ________ and the market share of Quaker State products ________.
A. increased; increased
B. increased; decreased
C. increased; did not change
D. did not change; increased
Answer: B
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The "velocity of circulation" refers to the
A) average speed with which the Fed increases or decreases the quantity of money. B) ratio between the quantity of money and the price level. C) average number of times in a year each dollar is used to buy goods and services. D) average number of times a dollar is deposited and withdrawn from a bank account. E) average speed with which the nominal interest rate changes when the inflation rate changes.
Education and training of workers would best be categorized as
A) land. B) labor. C) physical capital. D) human capital.
Which of the following factors can delay the entry of new competitive firms into the oligopoly market characterized by a dominant firm and some fringe firms?
a. Mergers and acquisitions b. Price threat c. Brandname and reputation of the dominant firm d. Quality controls set by the government
Of the collection of supply and demand diagrams in Figure 2.2, which one shows the result of an increase in the population of the group of people likely to buy a good?
A. Figure 1 B. Figure 2 C. Figure 3 D. Figure 4