The concentration ratio measures the
A. Number of plants owned by an oligopoly.
B. Proportion of total output produced by the largest firms in a specific market.
C. Percentage of total profits made by a firm in a specific market.
D. Relative size of a firm compared to other industries.
Answer: B
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If the Federal Reserve wanted to change the money supply in the economy, it would be least likely to
A) change the federal funds rate. B) sell bonds on the open market. C) change the level of reserves required to be held by banks. D) buy bonds on the open market.
The probability of being detected after committing a murder in Richland is 0.8, and if detected the murderer is imprisoned for a minimum of 10 years. What is the expected punishment in this case?
A) 2 years B) 8 years C) 12 years D) 10 years
Which program provides money and in-kind assistance to the poor?
a. supplementary security income b. earned-income tax credit c. income assistance programs d. Medicaid
What type of cost is not relevant to the process of research and development or invention in general?
A. Fixed cost B. Marginal cost C. Variable cost D. Social cost