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Recall the Application. A recent study concluded that following the merger between Penzoil

Recall the Application. A recent study concluded that following the merger between Penzoil and Quaker State, the new company ________ the price of Penzoil products and ________ the price of Quaker State products.

A) increased; increased

B) decreased; increased

C) increased; did not change

D) did not change; increased

49) Recall the Application. A recent study concluded that following the merger between Penzoil and Quaker State, the market share of Penzoil products ________ and the market share of Quaker State products ________.

A) increased; increased

B) increased; decreased

C) increased; did not change

D) did not change; increased

Recall the Application about FTC information on predatory pricing to answer the following question(s).

50) Recall the Application. According to the FTC, pricing below a competitor's cost:

A) is generally a violation of antitrust laws.

B) is generally not a violation of antitrust laws.

C) is always a violation of antitrust laws.

D) is never a violation of antitrust laws.

51) Recall the Application. According to the FTC, a company pricing below its own cost:

A) is generally a violation of antitrust laws.

B) is generally not a violation of antitrust laws.

C) is always a violation unless it is part of a strategy to eliminate foreign competition.

D) is always a violation unless it is part of a strategy to create a monopoly so it can recoup its losses.

52) The purpose of antitrust policy is to encourage competition in an industry.

53) Producers of close substitutes have little or no incentive to merge.

54) The Justice Department will not allow firms to merge if the result will be higher prices to consumers.

55) A merger may cause movement upward along the demand curve.

56) Mergers can sometimes be good for a market by allowing firms to take advantage of economies of scale.

57) Analysis of a proposed merger involves examining its effect only on a market's concentration

Dec 07 2019 View more View Less

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