Question 1 of 20
5.0 Points
A conglomerate merger takes place when:
A. a firm acquires a competitor.
B. similar firms agree to compete.
C. a firm integrates its production backward toward its source ofsupply or forward in its marketing chain.
D. a firm buys another firm unrelated to the original firm’sbusiness. Reset Selection
Question 2 of 20
5.0 Points
You can find the MRP by multiplying marginal physical product byprice for:
A. both the perfect competitor and the imperfect competitor.
B. neither the perfect competitor nor the imperfect competitor.
C. only the perfect competitor.
D. only the imperfect competitor. Reset Selection
Question 3 of 20
5.0 Points
The additional output that one additional input of labor isresponsible for is its __________ product.
A. marginal revenue
B. marginal physical
C. average revenue
D. average physical Reset Selection
Question 4 of 20
5.0 Points
The firm’s demand schedule for a resource is its __________schedule.
A. MPP
B. MRP
C. total revenue
D. output Reset Selection
Question 5 of 20
5.0 Points
As output rises:
A. both marginal revenue product and marginal physical productrise.
B. both marginal revenue product and marginal physical productfall.
C. marginal revenue product rises and marginal physical productfalls.
D. marginal revenue product rises and marginal physical productrises. Reset Selection
Question 6 of 20
5.0 Points
If the price that a perfect competitor received for his or herfinal product doubled, the firm’s MRP schedule would:
A. rise.
B. fall.
C. double at each price.
D. stay about the same. Reset Selection
Question 7 of 20
5.0 Points
As output rises, the MRP of an imperfect competitor will __________that of a perfect competitor.
A. rise faster than
B. fall faster than
C. rise at the same rate as
D. fall at the same rate as Reset Selection
Question 8 of 20
5.0 Points
The Standard Oil trust:
A. was broken up in 1946.
B. was controlled by several foreign nations.
C. forced its rivals out of business.
D. was put together by the U.S. government. Reset Selection
Question 9 of 20
5.0 Points
The Clayton Act prohibited:
A. interlocking directorates.
B. all forms of monopoly.
C. foreign control of U.S. corporations.
D. false and deceptive advertising. Reset Selection
Question 10 of 20
5.0 Points
The conventional merger is the __________ merger.
A. horizontal
B. vertical
C. conglomerate
D. diversifying Reset Selection
Question 11 of 20
5.0 Points
Each of the following is an advantage of forming a conglomerateEXCEPT:
A. tax advantages.
B. forming a big company.
C. diversification.
D. accumulation of power within two or three closely relatedindustries. Reset Selection
Question 12 of 20
5.0 Points
A key passage of the __________ Act stated that “every contract,combination in form of trust or otherwise, in restraint of commerceamong the several states, or with foreign nations, is herebydeclared illegal.”
A. Clayton
B. FTC
C. DuPont
D. Sherman Reset Selection
Question 13 of 20
5.0 Points
The Microsoft case ended with a(n):
A. clear-cut win for the federal government.
B. compromise settlement between Microsoft and the federalgovernment.
C. guilty plea by Microsoft, but no breakup of the company.
D. abandonment of the case by the federal government. ResetSelection
Question 14 of 20
5.0 Points
In the 1960s, about 80% of the mergers were of the __________variety.
A. horizontal
B. vertical
C. conglomerate
D. conventional Reset Selection
Question 15 of 20
5.0 Points
Each of the following industries was deregulated during the last 30years EXCEPT:
A. the airlines.
B. trucking.
C. banking.
D. radio and TV. Reset Selection
Question 16 of 20
5.0 Points
A merger of a firm and its supplier is called a __________merger.
A. vertical
B. horizontal
C. conglomerate
D. direct Reset Selection
Question 17 of 20
5.0 Points
A horizontal merger takes place when:
A. a firm acquires a competitor.
B. similar firms agree to compete.
C. firms in different industries merge.
D. a firm diversifies by merging with a foreign firm. ResetSelection
Question 18 of 20
5.0 Points
The Sherman Act of 1890:
A. exempted labor unions from antitrust prosecution.
B. included stringent enforcement provisions.
C. outlawed unfair business practices to exclude rivals fromselling in markets.
D. outlawed all monopolies. Reset Selection
Question 19 of 20
5.0 Points
A conglomerate merger involves combining firms:
A. involved in the same industry.
B. that are based in different countries.
C. from unrelated industries.
D. that control various stages of the production of a particulargood from raw materials to finished manufacture. ResetSelection
Question 20 of 20
5.0 Points
Which statement is true?
A. Microsoft is subject to American antitrust laws, but not thoseof Europe, Asia, or elsewhere.
B. Microsoft has never been involved in an antitrust suit.
C. The European Commission fined Microsoft over $600 billion forits anticompetitive behavior.
D. Microsoft has always gone out of its way to be helpful to itscompetitors. Reset Selection
ScholarMatic: Explanation & Answer
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