If there are 500 firms in an industry, and the four-firm concentration ratio is 90 percent, then
a. 496 firms account for the remaining 10 percent of sales
b. the industry must be monopolistic competition
c. the 4 firms each have 90 percent market share
d. the top four firms are a monopoly
e. the leading four firms receive 10 percent of industry profit
A
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Most of the income of Americans comes from
a. transfer payments. b. the ownership of bonds and physical assets. c. the ownership of bonds and corporate stocks. d. the ownership of human capital.
At free-trade prices, a bicycle in Country X sells for $100 when the per-unit cost of material inputs is $90. Country X has a nominal tariff rate of 15 percent on bicycles, and 10 percent on the material inputs. Based on this information, calculate the effective rate of protection for the bicycle industry in Country X. Assume that Country X is a small country.
A. 25% B. 15% C. 60% D. 5%
Define labor standards as proposed by the ILO
What will be an ideal response?
The firm's long-run supply curve begins at an output of
A. 30.
B. 40.
C. 55.
D. 70.