Factors of production such as labor and capital
A. are complementary.
B. can be complements and also substitutes.
C. can be neither complements nor substitutes.
D. are substitutable.
Answer: B
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Public goods have to be produced by the public sector
a. True b. False
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.
Consider two industries, industry Q and industry Z. In industry Q there are 10 companies, each with a market share of 10% of total sales. In industry Z, there are eight companies
One company has a 65% market share and each of the other seven firms has a market share of 5%. a. Calculate the four-firm concentration ratio for each industry. b. Calculate the Herfindahl-Hirschman Index (HHI) for each industry. c. What do the values of the two concentration measures imply about the degree of market power in the two industries?
In terms of the best practices frontier, a long term strategy
A) shifts the frontier B) moves a firm along a frontier C) may cause a firm to move inside the frontier D) may rotate the frontier toward the horizontal axis