If Sail Away has 15 percent of the market share, Easy Sails has a 30 percent market share, and Big Sails has a market share of 40 percent, according to Chinese law, which of the firm(s) is considered to be a dominant firm?
A) Sail Away, Easy Sails, and Big Sails
B) Easy Sails, but not Sail Away or Big Sails
C) Big Sails, but not Sail Away or Easy Sails
D) Big Sails and Easy Sails, but not Sail Away
A) Sail Away, Easy Sails, and Big Sails
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Keynesian macroeconomic theory has been summarized as the idea that
A. supply creates its own demand. B. demand creates its own supply. C. demand quickly adjusts in order to accommodate changes in the quantity of output. D. full employment is assured in long-run equilibrium.
Which of the following would be evidence of an increase in income inequality over time in the United States?
A. An increase in the percentage of total household income received by the lowest quintile B. An increase in the percentage of total household income received by the highest quintile C. An increase in the percentage of total household income received by the four lowest quintiles D. A decrease in the percentage of total household income received by the highest quintile
Recall the Application about the external cost of young drivers to answer the following question(s).Recall the Application. If the external costs of drivers on average could be internalized by a vehicle mileage traveled tax of 4.4 cents per mile, then you would expect that to fully internalize the external costs of accidents by drivers younger than 25 to be:
A. 4.4 cents per mile. B. lower than 4.4 cents per mile. C. higher than 4.4 cents per mile. D. zero as there are no externalities in driving.
During the financial crisis of 2008-2009, the U.S. government bailed out Goldman Sachs.
Answer the following statement true (T) or false (F)