If two steel firms decide to merge, this merger would be classified as:
a. a horizontal merger.
b. a vertical merger.
c. a conglomerate merger.
d. either a vertical or conglomerate merger depending on the nationality of the companies.
e. either a vertical or conglomerate merger depending on the market shares of the two companies.
a
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The demand for a product is inelastic with respect to price if:
A. consumers are largely unresponsive to a per unit price change. B. the elasticity coefficient is greater than 1. C. a drop in price is accompanied by a decrease in the quantity demanded. D. a drop in price is accompanied by an increase in the quantity demanded.
What was the primary goal of the proponents of the Patient Protection and Affordable Care Act?
A. Improve the quality of care by reducing medical malpractice. B. Reduce health care costs in the United States by 50 percent. C. Make all U.S. health care publically (government) provided. D. Extend health insurance coverage to all Americans.