Which of the following statements about concentration ratios is correct?
A) A high concentration ratio indicates that the industry is a monopoly.
B) A high concentration ratio indicates that the industry is monopolistically competitive.
C) A high concentration ratio suggests that the industry is characterized by strategic independence.
D) A high concentration ratio suggests that the industry is characterized by strategic dependence.
D
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If the rate of inflation in the economy is steady at 5 percent per year, how does the short-run Phillips curve predict that the unemployment rate will be changing, if at all? Does your answer change if inflation in the economy is 0 percent?
Illustrate your answer with a Phillips curve.
Control of a scarce resource or input can serve as an entry barrier
a. True b. False Indicate whether the statement is true or false
The fact that a higher standard of living tomorrow can only be achieved by sacrificing consumption today is an example of the:
A. principle of increasing opportunity costs. B. scarcity principle. C. equilibrium principle. D. principle of comparative advantage.
A home appliances supplier offers substantial discounts to customers if they buy several of the firm's products. When bought together, these items cost considerably less than the sum of the prices of the items if they were bought separately. Which pricing arrangement is being discussed here?
a. Price dealing b. Tacit collusion c. Bundling d. Skimming