Concentration ratios measure the:
A. geographic location of the largest corporations in each industry.
B. degree to which product price exceeds marginal cost in various industries.
C. percentage of total industry sales accounted for by the largest firms in the industry.
D. number of firms in an industry.
Answer: C
You might also like to view...
In order for the United States to use discretionary fiscal policy to deal with a recessionary gap,
A) the public must elect members of Congress that understand economics. B) the President's and Congress's economic advisors must agree on the proper government programs to slash. C) the President and Congress must agree on which taxes to hike. D) time must pass in order for Congress to decide what taxes and government programs to change. E) since 2002, the President has been given the authority to make up to a 10 percentage point change in government expenditure programs.
What is inflation and how is it measured using the Consumer Price Index?
What will be an ideal response?
Refer to the Article Summary. The article discusses wealth inequality, and for some people this means a more equitable distribution of wealth is needed in the economy. What is meant by a more equitable distribution of wealth?
A) a more allocatively efficient distribution of wealth B) a more productively efficient distribution of wealth C) wealth distributed based on income levels D) a more fair distribution of wealth
In U-Shaped Average Total Cost Curve, why does AFC continue to fall even while ATC rises at very high output?
What will be an ideal response?