Category: Applied Microeconomics

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
C. Elastic
D. inelastic

A. a conglomerate merger.
B. a horizontal merger
C. a complementary products merger.
D. a vertical merger

A. restrict; promote
B. restrict; restrict
C. promote; promote
D. promote; restrict

A. increasing market power is the best way to achieve efficiency.
B. competition is the best way to achieve efficiency.
C. public ownership is the best way to achieve efficiency
D. regulation is the best way to achieve efficiency.

A. deregulation
B. making markets contestable
C. natural monopoly.
D. cross-subsidization.

A. firms producing the same product
B. firms at various stages in production process.
C. firm producing complementary products
D. firms producing unrelated products.

A. is that if encourages firms to engage in research which leads to new products
B. is the revenue generated from the fines paid by those individuals who are found guilty of antitrust violation?
C. Is that this policy serves to deter firms from engaging in such practices as collusion, price-fixing and deceptive advertising
D. is that it forces firms to produce efficiently.

A. corporately owned businesses to individuals
B. publicly held stock to private individuals.
C. government businesses to the private sector
D. privately owned businesses to the government sector