Refer to the above table. The four-firm concentration ratio is
A. 86.5 percent.
B. 11.6 percent.
C. 13.3 percent.
D. 33.3 percent.
Answer: A
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In which case is the transition from short run to long run likely to involve the shortest chronological time period?
A. A service that provides temporary secretaries to companies B. An automobile factory C. A farm D. An electric utility
Spontaneous order
What will be an ideal response?
The value and cost of goods are easiest to determine when the goods are
a. common resources. b. public goods. c. club goods. d. private goods.
The market clearing price of computer modems has just decreased. Which of the following could have caused this change?
A) a decrease in supply at the same time that demand increases B) an increase in supply at the same time that demand decreases C) a decrease in supply with demand unchanged D) an increase in demand with supply unchanged