If the four-firm concentration ratio equals 0.1 percent for the Mexican tomato industry, then this industry is best characterized as
A) a monopoly.
B) monopolistic competition.
C) an oligopoly.
D) perfect competition.
E) either a monopoly or monopolistic competition.
D
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Which of the following best explains the closing gap between rural and urban mortality rates?
(a) Relatively higher incomes in urban areas (b) Relatively lower prices in urban areas (c) Medical advancements, health education, and public health and sanitation involvement (d) All of the above.
An increase in demand occurs when
A) we measure price in money price rather than real price. B) we move up the demand curve. C) the demand curve shifts to the right. D) the demand curve shifts to the left.
Suppose a perfectly competitive market results in a long-run equilibrium price of $8 and quantity of 500. If this same market were a monopoly, which of the following price and quantity combinations would be the most likely?
A. Price: $10, Quantity: 350 B. Price: $8, Quantity: 500 C. Price: $6, Quantity: 650 D. Price will equal marginal revenue and quantity will be found where marginal revenue equals marginal cost.
Business fixed investment
a. includes the building of single- and multi-family housing units. b. is the change in business inventories. c. is the smallest subcomponent of investment. d. consists of purchases of a newly produced plant and equipment.