If the demand for automobiles increases, which of the following would also experience an increase in demand?
a. automobile workers
b. skateboards
c. bicycle manufacturers
d. ice cream
e. financial analysts
A
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Measures of concentration
A) refer to the concentration of customers in a certain area. B) measure whether the market is dominated by a small number of firms. C) measure the concentration of a large number of firms in a certain area. D) have high values for perfect competition. E) measure how concentrated a firm's sales are among certain types of goods.
Refer to the figure above. What is the optimal quantity that the monopolist should produce?
A) 30 units B) 45 units C) 60 units D) 90 units
While Africa has the largest numbers of working children, Asia has the highest proportion of working children, with an estimated one in four employed
Indicate whether the statement is true or false
A monopoly restricts output and charges a higher price than other types of firms
a. True b. False Indicate whether the statement is true or false