If the four-firm concentration ratio in an industry increases, the industry
A. must have become more competitive.
B. must have become a monopoly.
C. must have become less competitive, although not necessarily a monopoly.
D. may or may not have become less competitive.
Answer: D
You might also like to view...
Other things equal, a fall in the market price caused by a change in supply will
a. decrease consumer surplus. b. increase producer surplus while leaving consumer surplus unchanged. c. increase consumer surplus. d. decrease producer surplus while leaving consumer surplus unchanged.
In order to ________ the long-run real interest rate, the Fed needs to ________
A) raise; raise the long-run inflation expectations B) raise; lower the long-run nominal interest rate C) lower; raise the long-run nominal interest rate D) lower; raise the long-run inflation expectations
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio is 10 percent, FBN Bank can loan an additional
A) $280 million. B) $200 million. C) $100 million. D) $360 million.
Refer to Figure 15-4. In the figure above, a movement from point A to point B would be caused by
A) an increase in the interest rate. B) a decrease in the price level. C) a decrease in real GDP. D) an increase in the price level.