An industry is comprised of 25 firms, each with an equal market share. What is the four-firm concentration ratio of this industry?
A. 0.25
B. 0.20
C. 0.12
D. 0.16
Answer: D
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Is nominal GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period? Is real GDP measured in terms of quantity or in terms of dollars? If dollars, the value of the dollar from what period?
What will be an ideal response?
The net increase to total surplus when a positive externality is corrected is due to:
A. the transfer of surplus from those affected by the externality to the consumer. B. the increased number of units bought and sold in the market. C. the transfer of surplus from the consumer to those affected by the externality. D. None of these statements is true.
If regulators were to ensure that monopolistically competitive firms follow a marginal cost-pricing rule: a. new firms would be likely to enter the market
b. the most efficient firms would not likely be affected. c. all firms would experience losses. d. firms would operate at the most efficient scale.
____________ tax is used to provide funds for Social Security and Medicare.
a. Payroll b. Income c. Sales d. Inheritance