Which of the following examples illustrates a horizontal merger?
a. an online retailer merges with a shipping company
b. a turbine manufacturer merges with a bank
c. a paper product manufacturer merges with a timber producer
d. a steel producer merges with another steel producer
d. a steel producer merges with another steel producer
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Refer to the above table. Which country had the largest increase in per capita real GDP between 2014 and 2015?
A) A B) B C) C D) D
Suppose a 10 percent increase in the price of textbooks decreases the quantity demanded by 20 percent. The elasticity of demand for textbooks is
A) 0.2. B) 2.0. C) 5.0. D) 10.0.
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee falls from $6 to $4, the market quantity demanded would
A) decrease by 89 lbs. B) increase by 110 lbs. C) increase by 61 lbs. D) increase by 26 lbs.
The economist who won the Nobel Prize in Economics for his path-breaking analysis of the ways in which property rights, transaction costs and institutions affect the allocation of economic resources is:
A. John Nash. B. Arthur Cecil Pigou. C. Ronald Coase. D. Theodore Groves.