Suppose each of the 50 states had only one gasoline station, and all stations were the same size. The four-firm concentration ratio for the state of New York, based on the state data, is:
A. 0.08.
B. 0.16.
C. 1.0.
D. 0.32.
Answer: C
You might also like to view...
If a firm is producing at an output level such that the MR is $550 and the MC is $780,
a. the firm incurs a total loss of $230 b. the firm should contract production because marginal profit is less than zero c. M? is +$230 d. the firm should expand its output level because its total revenue is rising by $550
Answer the next question based on the given supply and demand data for wheat.Bushels Demanded Per monthPrice per BushelBushels Supplied Per Month45$57750473563686126167157If the price in this market was $4
A. the market would clear; quantity demanded would equal quantity supplied. B. there would be a shortage of wheat. C. buyers would want to purchase more wheat than is currently being supplied. D. farmers would not be able to sell all their wheat.
Refer to Figure 24-1. Ceteris paribus, an increase in government spending would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The antitrust laws regulate all of the following business decisions except ____
a. collusion b. mergers c. monopolistic practices d. price discrimination e. wage levels