Using the market shares in the table above, if Big W wants to buy Widgette, the Federal Trade Commission will probably
A) approve the merger because the industry is moderately concentrated and the increase in the Herfindahl-Hirschman index (HHI) is small enough.
B) block the merger because the industry is moderately concentrated (HHI between 1,500 and 2,500 ) and the increase in the HHI is too much.
C) approve the merger because the industry is highly concentrated (HHI exceeds 2,500 ) but the increase in the HHI is small enough.
D) block the merger because the industry is highly concentrated (HHI exceeds 2,500 ) and the increase in the HHI is too much.
Question 2
The single-price monopolist shown in the above figure could increase its economic profit if
A) it became a price discriminator.
B) its costs of production decreased.
C) the demand for its good increased.
D) any or all the above were to occur.
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