If a monopolist decides to charge a higher price for its product, it will yield:
A) a lower revenue per unit sold but a higher number of units sold.
B) a lower revenue per unit sold and a lower number of units sold.
C) a higher revenue per unit sold but a lower number of units sold.
D) a higher revenue per unit sold and a higher number of units sold.
C
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Mergers between companies that previously existed in a supplier-buyer relationship are called
A) conglomerate mergers. B) diagonal mergers. C) horizontal mergers. D) vertical mergers.
Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?
A) Domestic consumption equals 40 million pounds of which 22 million pounds are imports. B) Domestic consumption equals 34 million pounds of which 18 million pounds are imports. C) Domestic consumption equals 34 million pounds of which 16 million pounds are imports. D) Domestic consumption equals 28 million pounds of which 18 million pounds are imports.