Refer to the table above. Using the four-firm concentration ratio, the upholstered furniture industry is best categorized as:IndustryNumber of sellers% of shipments accounted for by the 4 largest companiesTires1595Upholstered furniture2,00015
A. monopolistically competitive.
B. a pure monopoly.
C. perfectly competitive.
D. oligopolistic.
Answer: A
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Because of record-keeping and monetary costs, a general grant is always preferable to a categorical grant
a. True b. False
Some data that at first might seem puzzling: The share of GDP devoted to investment was similar for the United States and South Korea from 1960-1991 . However, during these same years South Korea had a 6 percent growth rate of average annual income per person, while the United States had only a 2 percent growth rate. If the saving rates were the same, why were the growth rates so different?
Economies of scale
A) do not arise in oligopolistic industries. B) can exist but are rare in oligopolistic industries. C) can exist but fail to create barriers to entry in oligopolistic industries. D) are commonplace and often a barrier to entry in oligopolistic industries.
A measure that can change from observation to observation is known as a(n)
A. empirical measure. B. variable. C. causality. D. model.