Hamermesh question 14.15: if this were a competitive industry, and mergers result in production efficiency gains, who would benefit from the mergers and why?
a. The merging companies would benefit, because merger approval fees would fall, and the merged company would enjoy efficiencies
b. The government would benefit, because more mergers would occur
c. The stock market would benefit, because the DOW rises when mergers occur
d. The public would benefit, because any set of companies could merge without interference