The concentration ratio for an oligopoly is considered
A. Under 40 percent.
B. Over 60 percent.
C. 100 percent.
D. 90 percent.
Answer: B
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Since 1970, the U.S. federal government had a budget surplus
A) in almost every year. B) in a few years in the 1990s. C) only once, in 2008. D) The U.S. federal government has not had a budget surplus since 1970.
Heavy business taxes
(a) vary according to firm size. (b) benefit small firms but cost large ones. (c) stifle entrepreneurial activity. (d) can be described by all of the above.
A price floor is a legal minimum on the price at which a good or service can be sold
a. True b. False Indicate whether the statement is true or false
An unintended effect of a new tax placed on the producers of good A may include
A) a higher price paid by the consumers of good A. B) less consumers' surplus for the buyers of good A. C) fewer workers employed in the production of good A. D) all of the above