Concentration increases in an industry
a. if the larger firms gain control of important resources, squeezing out smaller firms.
b. if some firms become technologically superior over time.
c. if innovation increases plant size of some firms and lowers their cost.
d. All of the above are correct.
d
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Refer to Figure 2-2. What is the opportunity cost of one pound of meat?
A) pound of vegetables B) pounds of vegetables C) 1.6 pounds of vegetables D) 16 pounds of vegetables
Which of the following could lead to a rightward shift of the demand curve for a good?
a. a decrease in the price of a substitute good b. an increase in the price of a complementary good c. a decrease in the price of the good, assuming it is a normal good d. an increase in the price of the good, assuming it is an inferior good e. expectations that the price of the good will rise in the future
Which best characterizes the reason why electricity was deregulated?
A. Economies of scale B. Foreign competition C. X-inefficiency D. New technology
Refer to the graph shown. An increase in U.S. income would shift:
A. S1 left and cause the euro to gain value. B. S1 right and cause the euro to lose value. C. D1 left and cause the euro to lose value. D. D1 right and cause the euro to gain value.