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General Motors declared bankruptcy in 2009 but exited bankruptcy just 40 days later, after streamlining its operations and selling the U.S. government a majority stake in the company. If GM had gone out of business altogether, why might that not have reduced the competition facing rival automaker Ford? ( Hint : At what price would the assets of the bankrupt companies be offered for sale?)

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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 12, Problem 5DQ
Textbook Problem
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General Motors declared bankruptcy in 2009 but exited bankruptcy just 40 days later, after streamlining its operations and selling the U.S. government a majority stake in the company. If GM had gone out of business altogether, why might that not have reduced the competition facing rival automaker Ford? (Hint: At what price would the assets of the bankrupt companies be offered for sale?)

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