In a diagram with the total cost curve and the total variable cost curve, as output increases, the vertical distance between these two curves
A) is constant.
B) decreases.
C) increases.
D) gets smaller and then bigger again.
A
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The percentage of all sales contributed by the leading four or leading eight firms in an industry is known as
A) a horizontal merger. B) a vertical merger. C) economies to scale. D) the concentration ratio.
There are fewer farmers in the United States today than 200 years ago because of
a. improvements in farm technology. b. increased government regulations in farming. c. an elastic demand for food. d. environmental programs designed to reduce soil erosion.
The economic impact of a change in spending, working through the multiplier, takes effect
A. immediately. B. very quickly, with a small number of rounds of spending. C. after a very long period of time. D. after multiple rounds of spending occur.
What are the three major types of quotas?
What will be an ideal response?