economics discussion

ivfn
timer Asked: Apr 22nd, 2018

Question Description

1. What is the difference between a horizontal and a vertical merger? (1 points)

2. Provide a recent example of a vertical and a horizontal merger (2 points)

3. Which are the two U.S. government entities responsible for overseeing and policing mergers? (2 points)

4. If price elasticity of demand for chicken is 0.40 in absolute value, when there is a 10 percent decrease in the price of chicken, what happens to the quantity demanded of chicken? (2 points)

5. In order to check if two goods are complements, which specific price elasticity is used and what would you expect the price elasticity's sign to be? (2 points)

6. If you obtain 10 units of utility per dollar spent on Good X and 5 units of utility per dollar spent on good Y, what should you do to maximize utility? (4 points) You will need to explain your answer.

7. Private goods are distibguished by two primary characteristics - explain what these are (2 points)

8. Provide a personal example of a positive and negative externality (5 points)

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