This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose two firms produce close substitutes such that reducing the price of one product reduces the ... (Read 44 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jul 21, 2019
Suppose two firms produce close substitutes such that reducing the price of one product reduces the quantity demanded of the other. If those two firms merge:
◦ they will eliminate the less profitable product and sell only one.
◦ they can earn higher profits by continuing to sell both products if the profit gained from increased sales of one product are greater than the lost profits from reduced sales of the other product.
◦ they will raise prices on both products.
◦ they will be unable to earn higher profits because the two products will compete against each other.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by vinney12 on Jul 21, 2019

britb2u

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 21, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


vinney12

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jul 21, 2019
Thanks


britb2u

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jul 21, 2019
Welcome :)


« previous next »
 

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant
Furchgott's discovery that endothelial cells produce a vasodilating substance. Furchgott's discovery that endothelial cells produce a vasodilating substance.
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ... Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ...
Many countries do not produce enough food and need to import food from the United States Many countries do not produce enough food and need to import food from the United States
Importance of Considering Gestalt Principles in Product Design (2 of 2) Importance of Considering Gestalt Principles in Product Design (2 of 2)
Video: Types of Transport - Uniport, Antiport and Symport (Glucose and Na+K+ Transporters)

For a complete list of videos, visit our video library