By 1825, which area in the New World had the greatest portion of slaves?
a. Spanish colonies
b. The West Indies
c. The United States
d. Brazil
c. The United States
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The wheat growing industry consists of very many farmers producing identical products. The market structure that best fits the wheat growing industry is probably
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
If the four-firm concentration ratio for an industry equals 100 percent, then definitely
A) the Herfindahl-Hirschman Index (HHI) equals 10,000. B) the industry is a monopoly. C) a small number of firms are in the industry. D) there are no barriers to entry into the industry.
Roughly speaking, peak-load pricing makes users at peak times pay for capacity while users at off-peak times pay only for operating cost
Indicate whether the statement is true or false
For a monopolist, marginal revenue is:
A.) Equal to price, just as it is for a perfectly competitive firm. B.) Constant up to the rate of output that maximizes total revenues. C.) Always less than price, after the first unit. D.) The same as the demand curve.