Two shortcomings of using concentration ratios are: (1) ___________; and (2) __________.
Fill in the blank(s) with the appropriate word(s).
(1) it does not include imports; (2) the ratio only measures the impact of the top four firms and ignores the competitive structure of the rest of the industry.
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Marge buys 5 CDs and 7 DVDs. The marginal utility of the 5th CD and the marginal utility of the 7th DVD are both equal to 30 utils. Can we say that this is the optimal combination of CDs and DVDs for Marge?
A) No. We need to know her preferences for CDs and DVDs. B) No. For this to be the optimal combination, the total utility from her purchase of CDs needs to equal the total utility from her purchase of DVDs. C) No. If this was the optimal combination, the marginal utility per dollar of the 5th CD and the 7th DVD would be equal. D) Yes.
The Bureau of Labor Statistics counts as employed people who work part-time, but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed
Explain how the unemployment rate and the labor force participation rate would change.
The skill-biased character of technological change in recent decades has tended to cause ________
A) a decrease in the demand for college-educated labor B) a higher rate of unemployment among college-educated labor C) a lower rate of unemployment among unskilled labor D) an increase in demand for college-educated labor
"Plowback" is that portion of corporate profits used to
a. invest in future activities of the corporation. b. advertise the company's product. c. buy back bonds (reduce debt). d. pay owners for the use of their capital.