Which of the following industries has the highest concentration ratio?
a. jeans
b. fruit
c. household laundry equipment
d. restaurants
c
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Internal costs are
A) costs borne solely by the individuals who incur them. B) costs borne by people in the same society as those who incur them. C) costs borne by people working in the firm that incurs them. D) all costs incurred in the marketplace.
A decrease in supply is caused by:
A) an increase in returns from other alternative activities. B) suppliers' expectations of lower prices in the future. C) an advancement in the technology for producing the good. D) a decrease in the price of a good using the same resources.
Compared to the perfect competitor, the monopolist is ______ efficient and charges a ______ price.
Fill in the blank(s) with the appropriate word(s).
Which of the following is an example of a tie-in sale?
A. In order to buy Dell Computers, you must also buy Microsoft Windows to get the warranty. B. Bus rides are cheaper for senior citizens than for other people. C. Two companies merge to form one company. D. Prices are set just low enough to prevent other firms from entering the market.