Which of the following is an example of a horizontal merger?
A. Northeastern Illinois University going from a public to a private university.
B. Northeastern Illinois University merging with a training academy for new professors.
C. Northeastern Illinois University merging with Bush University.
D. Northeastern Illinois University merging with a local bookstore.
Answer: C
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The above figure shows the apartment market in Big City. What could the Big City Housing Authority do if it wants to reduce the rents paid by its citizens?
A) impose a rent floor above $1350 B) impose a rent floor below $1350 C) impose a rent ceiling above $1350 D) impose a rent ceiling below $1350
Refer to Table 2-5. What is Estonia's opportunity cost of producing one cell phone?
A) 0.2 board feet of lumber B) 5 board feet of lumber C) 8 board feet of lumber D) 32 board feet of lumber