When people became ________ concerned with the underlying value of their houses and became ________ concerned with the expectations of the prices of their houses increasing, a housing bubble occurred

When two companies that produce the same product merge, it is called a

A) conglomerate merger. B) diagonal merger. C) horizontal merger. D) vertical merger.

In the short run, a perfectly competitive firm earning negative economic profit

A) is on the downward-sloping portion of its AVC. B) is at the minimum of its AVC. C) is on the upward-sloping portion of its AVC. D) is not operating on its AVC. E) can be at any point on its AVC.