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5 Written questions

5 Matching questions

  1. Vertical Merger
  2. Price Leadership
  3. Unbalanced Oligopoly
  4. Balanced Oligopoly
  5. Conglomerate Merger
  1. a An oligopoly in which the sales of the leading (top four) firms are relatively balanced among them.
  2. b A firm whose price decisions are tacitly accepted and followed by others in the industry.
  3. c A merger between firms who have a buyer/supplier relationship. Example: BFGoodrich merging with rubber plantations.
  4. d An oligopoly in which the sales of the leading (top four) firms are distributed unevenly among them.
  5. e A merger of firms in unrelated industries. Example: If Purina Dow Chow merged with Pampers Diaper Company.

5 Multiple choice questions

  1. A pricing strategy in game theory in which firms continue to match each others' pricing strategy.
  2. Any combination of strategies in which each players' strategy is his or her best choice, given the other players' strategies.
  3. The dominate firm in the oligopoly, whose pricing decisions are tacitly followed. The Godfather is the price leader.
  4. The demand curve faced by an oligopolist. The curve is more elastic when the firm raises its price than when it lowers its price.
  5. An agreement among firms in a market about quantities to produce or prices to charge in attempts to limit competition.

5 True/False questions

  1. Mutual InterdependenceA business arrangement in which two or more firms undertake a specific economic activity together. Once the activity is over, the firms go their own way.

          

  2. Joint VentureA business arrangement in which two or more firms undertake a specific economic activity together. Once the activity is over, the firms go their own way.

          

  3. Concentration RatioA merger of firms in unrelated industries. Example: If Purina Dow Chow merged with Pampers Diaper Company.

          

  4. Game TheoryThe dominate firm in the oligopoly, whose pricing decisions are tacitly followed. The Godfather is the price leader.

          

  5. CartelA combination of two or more companies into one company.