Which statement is false?
A. Growing automobile imports have made that industry's concentration ratio less relevant.
B. The Japanese automobiles have reduced the concentration ratio in that industry.
C. Most cars made in the United States are made by General Motors, Ford, and Chrysler.
D. None of these statements are false.
D. None of these statements are false.
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Steve sells hotdogs from a vending cart downtown. The table above shows his total revenue per day at four different prices. Between which two prices is the demand for hotdogs
a) elastic? b) unit elastic? c) inelastic?
Recently, many cities have attempted to pass laws taxing the sale of sugary drinks such as soda pop. If one of these laws passes, we would expect
A) the supply curve for soda pop to shift to the right. B) the supply curve for soda pop to become more vertical. C) the demand curve for soda pop to shift to the right. D) the demand curve for soda pop to shift to the left.
An example of positive analysis is studying
a. how market forces produce equilibrium. b. whether equilibrium outcomes are fair. c. whether equilibrium outcomes are socially desirable. d. if income distributions are fair.
The measure of concentration in an industry that takes the sum of the squares of the market shares of each firm in the industry is called _______________.
Fill in the blank(s) with the appropriate word(s).