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. b and e.
b. be a horizontal merger.
c. reduce competition in the soy market.
d. increase the market power of Paul and Virginia.
e. probably go unnoticed outside of Soyburg.
a
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Refer to the table above. If the market for notebooks is perfectly competitive, the equilibrium quantity is:
A) 2 units. B) 3 units. C) 4 units. D) 5 units.
In the 1980s, one of the most common sights in the socialist countries, such as the former Soviet Union and North Korea, were long lines for bread, sugar, and other necessities. These countries had price ceilings on these necessities
Some of the socialist nations, such as the former Soviet Union, have moved to a market economy by lifting the price ceilings, while others, such as North Korea, have retained their price ceilings. What prediction do you make about the presence (or absence) of long lines today in the former Soviet Union and North Korea? Explain your answer.
The figure above shows the demand curve (D) faced by Visual, Inc, a cable TV company, and the firm's marginal revenue (MR), marginal cost (MC), and average cost (LRAC) curves
If Visual is regulated according to the social interest theory, it will serve ________ million households and set a price of ________ per household per month. A) 2; $12 B) 3; $24 C) 4; $12 D) 2; $36
Four stores have a problem with theft and security is a public good. Let S stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 200 - 2S. Patrols cost $20 per hour. What is the socially efficient level of security?
A. 90 person-hours of patrols per week B. 100 person-hours of patrols per week C. 92.5 person-hours of patrols per week D. 97.5 person-hours of patrols per week