Even though the market for bricks has a low concentration ratio nationally, the U.S. Justice Department might still scrutinize any mergers in this industry because the
A) HHI is high nationally.
B) HHI is above 1800 nationally.
C) HHI is below 1800 nationally.
D) market is regional not national, and the regional concentration might be high.
D
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The United States has the biggest national economy in the world solely because of the U.S. population.
Answer the following statement true (T) or false (F)
Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, the consumer's burden of the tax
A) is Pa - Pc under either supply curve. B) is Pa - Pd if the supply curve is S0 and Pb - Pe if the supply curve is S1. C) is Pa - Pc if the supply curve is S0 and Pb - Pc if the supply curve is S1. D) is Pb - Pc under either supply curve.
Market exchange is typically an exchange of goods for money, as opposed to goods for goods, because use of money solves the problem of
A) the absence of a coincidence of wants. B) the absence of a double coincidence of wants. C) a coincidence of needs. D) tax evasion.
The quantity demanded of Pepsi has decreased. The best explanation for this is that
A. the price of Pepsi has increased. B. Pepsi consumers had an increase in income. C. the price of Coca-Cola has increased. D. Pepsi's advertising is not as effective as in the past.