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- NoneRegulation of coal falls solely under provincial jurisdiction because it is a natural resource. Select one: True FalseAccording to the Justice Department guidelines, mergers in an industry are seldom challenged if the industry O has a pre-merger HHI less than 1500 would have a post-merger Herfindahl-Hirschman Index (HHI) less than 1500 has a post-merger HHI of 10,000 would have a post-merger HHI greater than 2500 has a pre-merger HHI of less than 2500
- Consider the following problem.Demand: q = 100-pRetailer: marginal cost of selling r = 10 per unitManufacturer: marginal cost of producing = 40 per unitNeither firm faces any competitor 1. Suppose the manufacturer owns the retailer. Write down the profit function of the vertically-integratedfirm and solve for monopoly price, quantity, and total profit. 2. Suppose now that the retailer and the manufacturer are separate firms. The retailer will buy from themanufacturer at a unit price w (wholesale price). Write down the profit function of the retailer if it buysat w per unit, incurs the marginal cost of selling, and faces the same demand curve as before. Solve forthe optimal price for the retailer and the quantity sold as functions of w.Based on the best available econometric estimates, the market elasticity of demand for your firm's product is -2. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $225. Determine your optimal per unit price if: a. you are a monopolist b. you compete against one other firm in a Cournot oligopoly c. you compete against 19 other firms in a Cournot oligopoly20) If the Herfindahl-Hirschman Index of an industry is less than 1,000, then the Antitrust Division of the Justice Department A) will challenge any merger that would increase the index by over 100 points. B) considers the industry unconcentrated. C) considers the industry already concentrated. D) will challenge any merger that raises the index by more than 50 points.
- Consider a monopoly that sells a product to consumers with a constant marginal cost of $13. There are two potential consumers. As a prior belief, each consumer thinks that the product is worth either $29 or $19 with equal probability, and he/she learns the true value of the product after trying it out. Each consumer may have a different perception of the value of the product, and these perceptions are independent events. The product is non-durable. Suppose there are two periods and each consumer demands at most one unit of the product in each period. After the first period, a company named InfoteX could conduct an online marketing survey to learn consumers perceptions of the product. By purchasing the survey from InfoteX, the monopolist knows whether a consumer is happy with the product (i.e., he/she thinks the product is worth $29 instead of $19 after trying it out) or not and can offer personalized prices to customers in the second period. Then the monopolist should charge $_______…The National Football League has long-term leases with the stadiums in major cities. Control of these stadiums is an entry barrier to a potential new football league. True False SuivantWhich of the following would be most in line with how economists believe modern analysis of mergers should be done? Group of answer choices Mergers should never be allowed if the HHI (Herfindahl-Hirschman Index)increases by more than 300. Regulators should use the most narrow definition of a market when evaluating mergers. Regulators should us the most broad definition of the market when evaluating mergers. Regulators should evaluate how the merger will change the way firms act and how this will impact consumers.
- What is the most controversial aspect of Antitrust regulation? Group of answer choices Defining the allowable size the merged firm should be. Defining a market Sending violators to jail. Agreeing on which concentration measurement to use.NoneIn antitrust law, "price-fixing" refers to Multiple Choice O a company paying its suppliers a fixed price for certain inputs. a company fixing the price of its own product regardless of the degree of competition. competitors colluding to set their prices collectively. the government fixing the prices of products of antitrust violators.
