A. firms producing unrelated products
B. firms producing complementary products
C. firms at various stages in a production process.
D. firms producing the same product
A. Car licenses are very expensive vehicle entry to the city center is very restricted road pricing is being introduced and modern cheap rail transport is being expanded.
E. New York
A. Persuade the regulator to operate in the industry’s interests
B. Persuade the regulator to act in the firms interests.
C. Bribe the regulator.
D. Persuade the government to change the regulatory regime.
A. production merger
B. vertical merger
C. conglomerate merger.
D. horizontal merger
A. extended warranties offer value for money.
B. the cost of repair will usually exceed the cost of the warranty
C. they are paid commission on each extended warranty they sell.
D. They are concerned about customer satisfaction.
A. Environmentally damaging
B. an inferior good
C. a potential public good
D. a superior good
A. p = Z
B. P = MC + Z
C. p = MC
D. P = MC – Z
A. nationalized; privatized
B. natural monopoly; potentially competitive
C. cartel; a sellers’ market
D. monopolistic competition duopoly
A. absolutely inelastic
B. Unitarily elastic