1. In which of the following situations would a company have a lower chance of losing customers when it raises the price of its product?Customers have many sellers to choose from.There are low switching costs.Companies advertise their prices.The product is differentiated across companies.2.Which of the following mergers between two companies would be considered to be a vertical merger?A hair salon merges with a dry cleaner.A dressmaker merges with a doughnut shop.A fabric mill merges with a pants factory.An auto repair shop merges with a boat repair shop.
