Paul Bergen and Virginia Clancy each own a 100-acre soybean farm in Soyburg, Illinois. Together they grow 1/1000th of 1 percent of the nation's soybeans. When they merge, it will:
A. attract the attention of the Federal Trade Commission.
B. be a horizontal merger.
C. reduce competition in the soy market.
D. increase the market power of Paul and Virginia.
Answer: B
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Use the above figure. A leftward shift in the demand curve, ceteris paribus, would result in
A) a dollar appreciation. B) a dollar depreciation. C) a euro appreciation. D) increasing the equilibrium quantity of the euro.
Choice architects are likely to make program participation:
A. lower, even if they frame it positively. B. the default rule if they want low enrollment. C. the default rule if they want high enrollment. D. the status quo in order to entice high enrollment.
In a given community, if the government builds more freeways, then the supply curve for freeway space shifts rightward and the demand curve for freeway space shifts leftward
Indicate whether the statement is true or false
The open access equilibrium is usually
a. Economically efficient but ecologically unsustainable Incorrect b. Economically efficient and ecologically sustainable c. Economically inefficient but ecologically sustainable d. Neither economically efficient nor ecologically sustainable e. Highly profitable for resource users