A concentration ratio
a. measures the percentage of total output supplied by the four largest firms in the industry.
b. reflects the level of competition in an industry.
c. is related to the control that each firm has over price.
d. All of the above are correct.
d
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Which of the following nations can be called a mixed economy?
A. The United States. B. Italy. C. Sweden. D. France. E. All of these nations are mixed economies.
When an economy produces more houses and fewer typewriters, it is answering the ________ part of one of the two big economic questions
A) "what" B) "how" C) "where" D) "for whom"
Long Beach Island, off the coast of New Jersey, is considering building a sand barrier to protect the houses on the island from future hurricanes. The marginal social benefit of the barrier is equal to the
A) marginal private benefit of the person who benefits the most from the barrier. B) marginal private benefit of the person who benefits the least from the barrier. C) sum of the marginal private benefits for anyone who benefits from the barrier. D) difference between the marginal private benefit of the person who benefits the most and the person who benefits the least from the barrier.
Affirmative action
A. requires potential employees to affirm their rights at the Equal Employment Opportunity Commission. B. outlaws discrimination in rates of pay and hiring standards. C. refers to active efforts to locate and hire members of underrepresented groups. D. is when members of underrepresented groups act to reduce workplace discrimination.