If an industry currently dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues, with the remaining two firms each representing 5%, then one of the large firms merged with one of the small ones, what would be the new four firm concentration ratio and the new Herfindahl-Hirschman Index for this industry?
a. 100%; 3,050
b. 100%; 2,750
c. 95%; 3,050
d. 95% 2,750
a
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Some of the cost curves for Ike's Ice Cream Kitchen are given in the above figure. At which of the following levels of output will AFC be the lowest?
A) at 0 gallons B) at 10 gallons C) at 40 gallons D) at 70 gallons
Other things the same, an increase in the expected price level shifts
a. short-run aggregate supply right. b. short-run aggregate supply left. c. aggregate-demand right. d. aggregated-demand left.
Which one of the following statements is accurate as regards functions of a? corporation?
A. A corporation is owned by two or more partners. B. Public corporations are said to be publicly held or publicly traded. C. The stock of a public corporation is sold to founding partners only. D. Private corporations are also known as sole proprietorships. E.The stock of a private corporation is sold to anyone who has the means to buy it.
________: personal income after the payment of tax obligations
Fill in the blank(s) with correct word