When the economy produces its potential output, _____ is zero

Identify the type of merger in each of the following situations and indicate how the post-merger concentration ratio for the industry is affected

a. A steel company merges with a coal and iron ore mining company.b. Staples, a retailer of office supplies, acquires Office Depot, another retailer of office supplies.c. An oil company merges with pipeline, shipping, and railroad companies as well as refineries and gas stations.

Endogenous growth models

a. predict absolute convergence. b. predict conditional convergence. c. do not predict convergence. d. predict convergence among rich countries but not poor countries.