The text uses many examples to illustrate ideas. In the analysis of mergers, it mentioned that R. J. Reynolds merged with all of the following firms except
a. Nabisco
b. Coca-Cola
c. Kraft
d. Del Monte
e. Hawaiian Punch
B
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Congress relies on economists at the Congressional Budget Office to
a. enforce the nation's antitrust laws. b. set the nation's monetary policy. c. provide evidence that incumbent members of Congress are performing well in their jobs. d. provide independent evaluations of policy proposals.
Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV, where QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. We can see that:
A. cable TV service is an inferior good. B. cable TV service is a normal good. C. cable TV service and satellite TV service are complements. D. cable TV service and satellite TV service are unrelated to one another.