Positive statements can contain
A) opinions and conditions.
B) facts and predictions.
C) a mixture of facts and opinions.
D) logical arguments mixed with statements of opinion.
B
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Listed in the above table are the market shares for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
American unions came under increasing pressure in the 1950s because of stronger competition both at home and abroad
a. True b. False Indicate whether the statement is true or false
Susan quit her job as a teacher, which paid her $36,000 per year, in order to start her own catering business. She spent $12,000 of her savings, which had been earning 10 percent interest per year, on equipment for her business. She also borrowed $12,000 from her bank at 10 percent interest, which she also spent on equipment. For the past several months she has spent $1,000 per month on
ingredients and other variable costs. Also for the past several months she has earned $4,500 in monthly revenue. In the short run, Susan should a. shut down her business, and in the long run she should exit the industry. b. continue to operate her business, but in the long run she should exit the industry. c. continue to operate her business, but in the long run she will probably face competition from newly entering firms. d. continue to operate her business, and she is also in long-run equilibrium.
Which of the following are barriers to entry?
A. patents and copyrights B. economies of scale C. control of resources D. all of these