A college education generates:
A. no benefits.
B. only private benefits.
C. only external benefits.
D. both private and external benefits.
Answer: D
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The three largest firms in an industry have market shares of 40 percent, 30 percent, and 2 percent. The remaining 47 firms in the industry each have a market share of 1 percent. The Herfindahl-Hirschman Index (HHI) for this industry is
A) 2,551. B) 5,184. C) 24,061. D) 10,000. E) 3,013.
Over the last 100 years, the average U.S. growth rate in real GDP per person was about
A) 2 percent per year. B) 6 percent per year. C) 12.5 percent per year. D) 1 percent per year.
Why is the price at which the quantity demanded equals the quantity supplied the equilibrium price?
What will be an ideal response?
In 1999, around 24 percent of college students attended private schools
a. True b. False