According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be
A) 82.5 percent.
B) 35.8 percent.
C) 69.0 percent.
D) 84.1 percent.
A
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An important problem with corporations is
A) the inability of the government to control and tax the firms. B) the possibility of large liabilities for the owners. C) the separation of ownership and control. D) the difficulties with raising financial capital.
If the supply of another input used decreases, the marginal product of labor can:
A. increase, decreasing the demand for labor. B. increase, increasing the demand for labor. C. decrease, increasing the demand for labor. D. increase, increasing the supply of labor.
Why is defining a market difficult?
a. Government regulations about the exchange of goods and services are complex. b. The conditions under which buyers and sellers exchange goods and services can vary. c. Scholars cannot agree on a standard definition. d. Urban and rural areas have different ways of exchanging goods.
In a monopolistically competitive market, entry into the industry
A) is relatively easy. B) is blocked. C) is difficult due to extensive government regulation. D) is as difficult as entry into a monopoly.