Economists played a key role in the development of merger guidelines by the Department of Justice and the Federal Trade Commission in 1982. These guidelines have three main parts. What are these parts?

A) concentration ratios; the Herfindahl-Hirschman Index; market standards
B) concentration standards; concentration ratios; competitive analysis
C) economic analysis; political analysis; dynamic analysis
D) market definition; measure of concentration; merger standards

Answer: D

Economics

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If the level of real GDP is $14 trillion while aggregate planned expenditure is $15 trillion, then

A) inventories rise more than planned, leading firms to increase production. B) real GDP increases and planned expenditure decreases reaching equilibrium in the middle. C) aggregate planned expenditure decreases to reach the equilibrium of $14 trillion. D) inventories fall more than planned, leading firms to increase production. E) inventories rise more than planned, leading firms to cut production.

Economics

Based on the graphic for perfect competition versus monopoly, which is the greatest area?



a. consumer surplus in a monopoly
b. consumer surplus in perfect competition
c. producer surplus in a monopoly
d. producer surplus in perfect competition

Economics