The top four firms in the industry have 10 percent, 8 percent, 8 percent, and 6 percent of the market. The four-firm concentration ratio of this market is:
A. 32.
B. 8.
C. 66.
D. 264.
Answer: A
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If the price elasticity of demand for automobiles is 2:
A. a 10 percent increase in price would result in a 10 percent decrease in quantity demanded. B. a 10 percent increase in price would result in a 20 percent increase in quantity demanded. C. a 10 percent decrease in price would result in a 20 percent decrease in quantity demanded. D. a 10 percent decrease in price would result in a 20 percent increase in quantity demanded.
Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. If the price of an ice cream cone is $2, the price of ice cream sandwiches is
A. $2. B. $3. C. $50. D. $100.
Explain why total utility is maximized when the marginal utility per dollar on all goods is equal
What will be an ideal response?
The in-kind Medicare transfer increased real incomes of the aged by 17 to 40 percent
Indicate whether the statement is true or false