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Regarding the Exxon-Mobil merger of the late 1990s, answer and carefully explain each of the following in your own words:
b) What was the result of the merger and merged firm on the petroleum industry? Did the price of gas go up or down?
How did competition in the industry change? Be specific and explain.
c) What role did the Federal Trade Commission (FTC) and Department of Justice (DoJ) play in this merger? What did the FTC and DoJ require to happen before the merger was approved? Why? Do you believe that the FTC and DoJ requirements prior to allowing the merger in this case were fair, equitable, and reasonable given the situation?
Generally do you agree or disagree that the FTC and DoJ should be involved in corporate mergers of any kind?
Carefully explain.
Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.
Suppose the restaurant industry is perfectly competitive. All producers have identical cost curves and the industry is currently in long-run equilibrium, with each producer producing at its minimum long-run average total cost of $8.
Sometimes self-interested behaviour in markets do not contribute to broader social objectives Example: Should I burn my leaves or haul m into woods.
According to a Wall Street Journal article "MCI, in New Phone War Skirmish, Files Suit over AT&T Ad Claims," MCI was upset with AT&T over allegedly false claims that AT&T's service is cheaper than MCI's. Based on this data, estimate the equation for ..
Suppose the government sets a controlled price below the market clearing price for a commodity. Draw a diagram and use the idea of a maximum buying price to explain whether the total price paid by the buyers will end up lower or higher than before.
What is the opportunity cost of an extra 10h shift at work, if your alternatives are to spend a maximum of 4h with friends at a bar (valued at 30$/h), doing problem sets for a maximum of 2h (valued at 10$/h), and suing for any amount of time (valued ..
How large is economy of India? Indian GDP in 2010 was 78.9 trillion rupees,while U.S GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar. What is the ratio of Indian GDP to U.S. GDP if we do not take into account the differe..
Calculate firm 1's profit-maximizing output and profits in the absence of potential competition and calculate the output and profits of both firms in case firm 1 accommodates entry.
If the money supply increases, show with should happen if we assume we live in a classical world. With assumptions are you making about the quantity theory of money theory?
Describe elderly individuals who complain about the increasing cost of their medications have no real complaint.
Present a thorough analysis of the inverse relationship between inflation and unemployment reflected by the Phillips curve. Describe the importance of expectations and how they affect the actual relationship between the inflation rate and the unemplo..
Most business in the U.S. is conducted by corporations, and corporations popularity results primarily from their favorable tax treatment.
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