Supply is determined by how much suppliers are willing and able to produce.
Answer the following statement true (T) or false (F)
False
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Based on the above table, which shows the firms and sales in an industry, what is the four-firm concentration ratio?
A) 55 B) 74 C) 100 D) $740 million
If the regulatory agency sets a price where AR = AC for a natural monopoly, output will be
A) equal to the competitive level. B) equal to the monopoly profit maximizing level. C) greater than the monopoly profit maximizing level and less than the competitive level. D) greater than the competitive level.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Shifts in demand away from French products and toward U.S. products (caused by forces other than changes in the exchange rate) would result in extra attempts to
A. buy euros and sell dollars. B. buy both euros and dollars. C. sell both euros and dollars. D. sell euros and buy dollars.